Concho Resources (CXO) Getting Somewhat Positive Press Coverage, Study Finds
Media coverage about Concho Resources (NYSE:CXO) has been trending somewhat positive recently, Accern Sentiment reports. The research group identifies positive and negative press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Concho Resources earned a news sentiment score of 0.14 on Accern’s scale. Accern also assigned news coverage about the oil and natural gas company an impact score of 47.3007221635367 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the news articles that may have impacted Accern’s rankings:
- Concho Resources on the Street: What Do the Analysts Recommend? (finance.yahoo.com)
- Brokerages Expect Concho Resources Inc. (CXO) Will Post Earnings of $0.39 Per Share (americanbankingnews.com)
- Notable Investor’s Watch List: The Mosaic Company, (NYSE: MOS), Concho Resources Inc., (NYSE: CXO), Service … – Stocks In The News (press release) (tradingnewsnow.com)
- Zacks Investment Research Upgrades Concho Resources Inc. (CXO) to “Buy” (americanbankingnews.com)
- Concho Resources Inc. (CXO) Expected to Earn FY2017 Earnings of $1.89 Per Share (americanbankingnews.com)
CXO has been the subject of several recent analyst reports. Jefferies Group LLC reiterated a “hold” rating and issued a $109.00 price objective (down from $130.00) on shares of Concho Resources in a report on Tuesday, August 29th. BidaskClub upgraded shares of Concho Resources from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research cut shares of Concho Resources from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $192.00 price objective on shares of Concho Resources in a report on Friday, July 14th. Finally, Citigroup Inc. decreased their price objective on shares of Concho Resources from $166.00 to $151.00 and set a “buy” rating for the company in a report on Friday, July 21st. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $151.35.
Shares of Concho Resources (CXO) opened at $146.62 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $21,241.22, a P/E ratio of 86.05 and a beta of 1.09.
Concho Resources (NYSE:CXO) last issued its quarterly earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.19. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The business had revenue of $627.00 million during the quarter, compared to the consensus estimate of $614.12 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. sell-side analysts forecast that Concho Resources will post 1.76 earnings per share for the current year.
In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $114.84, for a total value of $1,917,368.64. Following the completion of the sale, the vice president now owns 132,388 shares in the company, valued at approximately $15,203,437.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.99% of the stock is owned by corporate insiders.
Concho Resources Company Profile
Concho Resources Inc is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.
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