Todays Report: Today, 1,800 Shares of Concho Resources Inc. (CXO) Stock are sold by Brenda R. Schroer

Today, 1,800 Shares of Concho Resources Inc. (CXO) Stock are sold by Brenda R. Schroer

Concho Resources Inc. (NYSE:CXO) CAO Brenda R. Schroer sold 1,800 shares of the business’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $138.04, for a total transaction of $248,472.00. Following the completion of the sale, the chief accounting officer now directly owns 8,060 shares of the company’s stock, valued at $1,112,602.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Concho Resources Inc. (NYSE:CXO) opened at 129.50 on Tuesday. The firm’s market cap is $18.26 billion. Concho Resources Inc. has a 12 month low of $69.94 and a 12 month high of $143.60. The company’s 50-day moving average is $133.68 and its 200 day moving average is $127.49.

Concho Resources (NYSE:CXO) last released its earnings results on Tuesday, November 8th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.14. The firm had revenue of $430.55 million for the quarter, compared to analysts’ expectations of $69.10 million. Concho Resources had a negative net margin of 89.23% and a positive return on equity of 0.93%. Concho Resources’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. On average, equities research analysts predict that Concho Resources Inc. will post $0.43 earnings per share for the current year.

A number of research analysts have commented on CXO shares. Johnson Rice started coverage on shares of Concho Resources in a research note on Tuesday, October 4th. They issued an “accumulate” rating on the stock. Bank of America Corp. set a $151.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research note on Tuesday, November 8th. Zacks Investment Research lowered shares of Concho Resources from a “buy” rating to a “hold” rating in a research note on Thursday, November 3rd. Citigroup Inc. lifted their price objective on shares of Concho Resources from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, August 11th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $140.00 price objective on shares of Concho Resources in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $139.85.

A number of institutional investors have recently added to or reduced their stakes in CXO. Capital Research Global Investors boosted its position in Concho Resources by 5.7% in the third quarter. Capital Research Global Investors now owns 15,077,425 shares of the company’s stock valued at $2,070,884,000 after buying an additional 806,995 shares during the last quarter. Vanguard Group Inc. boosted its position in Concho Resources by 3.1% in the second quarter. Vanguard Group Inc. now owns 12,096,923 shares of the company’s stock valued at $1,442,800,000 after buying an additional 369,153 shares during the last quarter. Capital World Investors boosted its position in Concho Resources by 4.3% in the third quarter. Capital World Investors now owns 10,249,000 shares of the company’s stock valued at $1,407,700,000 after buying an additional 424,500 shares during the last quarter. Jennison Associates LLC boosted its position in Concho Resources by 0.5% in the second quarter. Jennison Associates LLC now owns 7,632,992 shares of the company’s stock valued at $910,387,000 after buying an additional 39,645 shares during the last quarter. Finally, State Street Corp boosted its position in Concho Resources by 1.3% in the second quarter. State Street Corp now owns 6,202,843 shares of the company’s stock valued at $739,815,000 after buying an additional 78,053 shares during the last quarter. 96.32% of the stock is currently owned by hedge funds and other institutional investors.

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