Shares of Concho Resources Inc. (NYSE:CXO) gapped up prior to trading on Thursday . The stock had previously closed at ($139.84), but opened at $0.00. Concho Resources shares last traded at $0.00, with a volume of 2521224 shares trading hands.

A number of analysts have weighed in on the stock. SunTrust Banks, Inc. set a $145.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research cut shares of Concho Resources from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BMO Capital Markets reissued a “buy” rating on shares of Concho Resources in a report on Friday, August 11th. Barclays PLC cut their price objective on shares of Concho Resources from $125.00 to $124.00 and set an “overweight” rating on the stock in a report on Tuesday, August 8th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $158.00 price objective on shares of Concho Resources in a report on Friday, September 29th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $150.80.

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.70 and a current ratio of 0.66. The firm has a market capitalization of $21,241.22, a PE ratio of 86.05 and a beta of 1.09.

Concho Resources (NYSE:CXO) last posted its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.19. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The firm had revenue of $627.00 million for the quarter, compared to analyst estimates of $614.12 million. During the same period last year, the firm posted $0.32 EPS. Concho Resources’s quarterly revenue was up 45.8% on a year-over-year basis. equities research analysts forecast that Concho Resources Inc. will post 1.76 earnings per share for the current fiscal year.

In related news, VP E Joseph Wright sold 16,696 shares of Concho Resources stock in a transaction 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 transaction, the vice president now directly 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 is accessible through this link. Company insiders own 0.99% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Nordea Investment Management AB boosted its position in shares of Concho Resources by 33.6% during the 2nd quarter. Nordea Investment Management AB now owns 7,968 shares of the oil and natural gas company’s stock worth $968,000 after purchasing an additional 2,003 shares in the last quarter. Texas Capital Bancshares Inc. TX boosted its position in shares of Concho Resources by 5.5% during the 3rd quarter. Texas Capital Bancshares Inc. TX now owns 7,274 shares of the oil and natural gas company’s stock worth $958,000 after purchasing an additional 380 shares in the last quarter. Capital Advisors Inc. OK purchased a new stake in shares of Concho Resources during the 2nd quarter worth $2,093,000. Birinyi Associates Inc. boosted its position in shares of Concho Resources by 4.3% during the 2nd quarter. Birinyi Associates Inc. now owns 11,000 shares of the oil and natural gas company’s stock worth $1,337,000 after purchasing an additional 450 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Concho Resources by 1.1% during the 2nd quarter. Wells Fargo & Company MN now owns 2,054,048 shares of the oil and natural gas company’s stock worth $249,628,000 after purchasing an additional 22,167 shares in the last quarter. Institutional investors own 92.28% of the company’s stock.

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About Concho Resources

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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