Concho Resources Inc (NYSE:CXO) Director Susan J. Helms bought 700 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $70.12 per share, with a total value of $49,084.00. Following the purchase, the director now directly owns 5,137 shares of the company’s stock, valued at $360,206.44. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of Concho Resources stock opened at $73.41 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 0.24. Concho Resources Inc has a 52 week low of $63.92 and a 52 week high of $160.81. The firm has a 50 day moving average price of $96.28. The firm has a market capitalization of $14.76 billion, a PE ratio of 15.99 and a beta of 1.15.

Concho Resources (NYSE:CXO) last posted its earnings results on Wednesday, July 31st. The oil and natural gas company reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.05). Concho Resources had a net margin of 11.63% and a return on equity of 4.12%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the business earned $1.24 EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, analysts expect that Concho Resources Inc will post 3.3 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 9th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.68%. Concho Resources’s dividend payout ratio is presently 10.89%.

Several equities research analysts recently commented on the company. Morgan Stanley cut Concho Resources from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $131.00 to $64.00 in a research note on Tuesday. KeyCorp raised their target price on Concho Resources from $121.00 to $124.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. TD Securities decreased their target price on Concho Resources from $115.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Credit Suisse Group reduced their price objective on Concho Resources from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Finally, Williams Capital reissued a “buy” rating and issued a $155.00 price objective (down previously from $171.00) on shares of Concho Resources in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Concho Resources currently has a consensus rating of “Buy” and a consensus price target of $150.08.

Several hedge funds have recently bought and sold shares of CXO. Russell Investments Group Ltd. raised its stake in shares of Concho Resources by 7.3% in the second quarter. Russell Investments Group Ltd. now owns 70,484 shares of the oil and natural gas company’s stock valued at $7,258,000 after buying an additional 4,802 shares during the period. Prudential Financial Inc. raised its stake in shares of Concho Resources by 1.9% in the second quarter. Prudential Financial Inc. now owns 270,364 shares of the oil and natural gas company’s stock valued at $27,896,000 after buying an additional 5,000 shares during the period. Sciencast Management LP bought a new stake in shares of Concho Resources in the second quarter valued at $207,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Concho Resources by 34.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 36,207 shares of the oil and natural gas company’s stock valued at $3,736,000 after buying an additional 9,330 shares during the period. Finally, Cumberland Partners Ltd bought a new stake in shares of Concho Resources in the second quarter valued at $206,000. Institutional investors own 94.56% of the company’s stock.

Concho Resources Company Profile

Concho Resources, Inc engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include Delaware Basin, and Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.

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Insider Buying and Selling by Quarter for Concho Resources (NYSE:CXO)

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