Insider Selling: Timothy A. Leach Sells 109,330 Shares of Concho Resources Stock (CXO)
Concho Resources (NYSE:CXO) CEO Timothy A. Leach sold 109,330 shares of Concho Resources stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $139.23, for a total transaction of $15,222,015.90. Following the completion of the sale, the chief executive officer now directly owns 821,841 shares of the company’s stock, valued at approximately $114,424,922. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on CXO shares. 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 investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Concho Resources has a consensus rating of “Buy” and an average target price of $156.11.
Shares of Concho Resources (NYSE:CXO) traded down 3.68% on Thursday, hitting $135.06. The stock had a trading volume of 1,494,782 shares. 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 $137.9 and its 200-day moving average is $132.0. The company has a market cap of $15.065 billion and a P/E ratio of 62.29.
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. Analysts expect that Concho Resources will post $4.27 EPS for the current fiscal year.
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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