Traders bought shares of Concho Resources Inc. (NYSE:CXO) on weakness during trading hours on Monday after an insider sold shares in the company. $27.05 million flowed into the stock on the tick-up and $19.59 million flowed out of the stock on the tick-down, for a money net flow of $7.46 million into the stock. Of all companies tracked, Concho Resources had the 28th highest net in-flow for the day. Concho Resources traded down ($4.13) for the day and closed at $134.26Specifically, CAO Brenda R. Schroer sold 1,800 shares of the company’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 transaction, the chief accounting officer now owns 8,060 shares in the company, valued at approximately $1,112,602.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.
A number of equities analysts have commented on CXO shares. Morgan Stanley set a $173.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Deutsche Bank AG upped their price objective on shares of Concho Resources from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Zacks Investment Research upgraded shares of Concho Resources from a “hold” rating to a “buy” rating and set a $154.00 price objective for the company in a research report on Tuesday, October 4th. Johnson Rice started coverage on shares of Concho Resources in a report on Tuesday, October 4th. They issued an “accumulate” rating for the company. Finally, Jefferies Group set a $123.00 price target on shares of Concho Resources and gave the company a “hold” rating in a report on Tuesday, October 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Concho Resources presently has an average rating of “Buy” and a consensus price target of $139.85.
The stock has a 50 day moving average of $133.97 and a 200-day moving average of $127.25. The company’s market cap is $18.26 billion.
Concho Resources (NYSE:CXO) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.19 by $0.14. Concho Resources had a negative net margin of 89.23% and a positive return on equity of 0.93%. The firm had revenue of $430.55 million for the quarter, compared to analysts’ expectations of $69.10 million. During the same period in the previous year, the business earned $0.33 earnings per share. Concho Resources’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities analysts anticipate that Concho Resources Inc. will post $0.43 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of CXO. Carmignac Gestion acquired a new stake in shares of Concho Resources during the second quarter valued at approximately $209,179,000. JPMorgan Chase & Co. boosted its stake in shares of Concho Resources by 43.6% in the third quarter. JPMorgan Chase & Co. now owns 5,144,449 shares of the company’s stock valued at $706,590,000 after buying an additional 1,561,545 shares during the period. Capital Research Global Investors boosted its stake in shares of Concho Resources by 10.8% in the second quarter. Capital Research Global Investors now owns 14,270,430 shares of the company’s stock valued at $1,702,034,000 after buying an additional 1,388,475 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Concho Resources by 39.6% in the third quarter. TIAA CREF Investment Management LLC now owns 4,120,419 shares of the company’s stock valued at $565,940,000 after buying an additional 1,169,713 shares during the period. Finally, Standard Life Investments LTD boosted its stake in shares of Concho Resources by 143.1% in the third quarter. Standard Life Investments LTD now owns 1,663,885 shares of the company’s stock valued at $228,502,000 after buying an additional 979,311 shares during the period. Hedge funds and other institutional investors own 96.32% of the company’s stock.