Concho Resources CFO Sells $2,100,000 in Stock (CXO)
Concho Resources (NYSE:CXO) CFO Darin G. Holderness sold 15,000 shares of the stock on the open market in a transaction dated Friday, August 29th. The shares were sold at an average price of $140.00, for a total transaction of $2,100,000.00. Following the sale, the chief financial officer now directly owns 60,450 shares of the company’s stock, valued at approximately $8,463,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Concho Resources (NYSE:CXO) traded down 2.03% during mid-day trading on Tuesday, hitting $139.16. 766,558 shares of the company’s stock traded hands. Concho Resources has a 52-week low of $94.51 and a 52-week high of $148.61. The stock’s 50-day moving average is $138.2 and its 200-day moving average is $131.9. The company has a market cap of $15.522 billion and a price-to-earnings ratio of 63.10.
Concho Resources (NYSE:CXO) last released its earnings data on Wednesday, August 6th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. The company had revenue of $704.70 million for the quarter, compared to the consensus estimate of $676.71 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, analysts predict that Concho Resources will post $4.27 earnings per share for the current fiscal year.
A number of research firms have recently commented on CXO. Analysts at Stifel Nicolaus raised their price target on shares of Concho Resources from $115.00 to $170.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Concho Resources from $174.00 to $179.00 in a research note on Wednesday, August 27th. Finally, analysts at Canaccord Genuity initiated coverage on shares of Concho Resources in a research note on Tuesday, August 12th. They set a “buy” rating and a $185.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $156.11.
Concho Resources Inc(NYSE:CXO) is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties.
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