Shares of Concho Resources Inc (NYSE:CXO) have been assigned an average rating of “Buy” from the thirty research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $132.71.
A number of analysts recently issued reports on CXO shares. KeyCorp dropped their price target on shares of Concho Resources from $106.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday. Citigroup dropped their price target on shares of Concho Resources from $81.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday. SunTrust Banks lowered shares of Concho Resources from a “buy” rating to a “hold” rating and dropped their price target for the stock from $100.00 to $70.00 in a research note on Wednesday. Williams Capital restated a “buy” rating and issued a $114.00 price target on shares of Concho Resources in a research note on Tuesday, September 3rd. Finally, MKM Partners dropped their price target on shares of Concho Resources from $131.00 to $118.00 and set a “buy” rating for the company in a research note on Friday, August 30th.
Shares of NYSE:CXO traded down $0.69 during midday trading on Monday, reaching $62.45. The company had a trading volume of 1,803,492 shares, compared to its average volume of 2,016,147. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.61 and a quick ratio of 0.59. The stock’s fifty day moving average price is $69.34 and its 200-day moving average price is $91.86. The stock has a market capitalization of $12.56 billion, a P/E ratio of 13.61 and a beta of 1.20. Concho Resources has a one year low of $61.37 and a one year high of $150.45.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 9th were paid a dividend of $0.125 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.50 annualized dividend and a yield of 0.80%. Concho Resources’s payout ratio is 10.89%.
In other Concho Resources news, Director Gary A. Merriman bought 2,000 shares of the stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $69.90 per share, for a total transaction of $139,800.00. Following the completion of the purchase, the director now directly owns 44,815 shares in the company, valued at $3,132,568.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brenda R. Schroer bought 1,500 shares of the stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $69.67 per share, with a total value of $104,505.00. Following the purchase, the chief financial officer now owns 35,137 shares of the company’s stock, valued at $2,447,994.79. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 16,200 shares of company stock valued at $1,084,349. 1.10% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI grew its position in shares of Concho Resources by 1.3% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 56,363 shares of the oil and natural gas company’s stock worth $3,827,000 after acquiring an additional 718 shares during the last quarter. MHI Funds LLC grew its position in shares of Concho Resources by 45.5% during the third quarter. MHI Funds LLC now owns 3,627 shares of the oil and natural gas company’s stock worth $246,000 after acquiring an additional 1,135 shares during the last quarter. Sippican Capital Advisors grew its position in shares of Concho Resources by 16.0% during the third quarter. Sippican Capital Advisors now owns 11,366 shares of the oil and natural gas company’s stock worth $772,000 after acquiring an additional 1,569 shares during the last quarter. Signaturefd LLC grew its position in shares of Concho Resources by 73.5% during the third quarter. Signaturefd LLC now owns 406 shares of the oil and natural gas company’s stock worth $28,000 after acquiring an additional 172 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Concho Resources during the third quarter worth about $313,000. Institutional investors and hedge funds own 95.31% 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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