Insider Selling: Concho Resources Inc (CXO) Director Sells 4,000 Shares of Stock
Concho Resources Inc (NYSE:CXO) Director Ray M. Poage sold 4,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $150.87, for a total transaction of $603,480.00. Following the sale, the director now directly owns 24,799 shares of the company’s stock, valued at $3,741,425.13. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Concho Resources Inc (NYSE CXO) traded up $1.02 during mid-day trading on Thursday, reaching $153.61. 1,050,377 shares of the company’s stock traded hands, compared to its average volume of 991,733. The firm has a market cap of $22,840.00, a price-to-earnings ratio of 40.42 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66. Concho Resources Inc has a 52 week low of $106.73 and a 52 week high of $155.05.
Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.19. The company had revenue of $627.00 million during the quarter, compared to analyst estimates of $614.12 million. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. equities research analysts predict that Concho Resources Inc will post 1.85 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Concho Resources by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 15,139,409 shares of the oil and natural gas company’s stock worth $1,839,892,000 after acquiring an additional 454,428 shares in the last quarter. Capital World Investors grew its holdings in Concho Resources by 10.6% during the 2nd quarter. Capital World Investors now owns 10,792,500 shares of the oil and natural gas company’s stock worth $1,311,613,000 after acquiring an additional 1,034,000 shares in the last quarter. State Street Corp grew its holdings in Concho Resources by 0.3% during the 2nd quarter. State Street Corp now owns 7,893,306 shares of the oil and natural gas company’s stock worth $959,272,000 after acquiring an additional 20,760 shares in the last quarter. TIAA CREF Investment Management LLC grew its holdings in Concho Resources by 5.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 4,085,360 shares of the oil and natural gas company’s stock worth $496,494,000 after acquiring an additional 195,820 shares in the last quarter. Finally, Carmignac Gestion grew its holdings in Concho Resources by 7.6% during the 3rd quarter. Carmignac Gestion now owns 2,663,795 shares of the oil and natural gas company’s stock worth $350,875,000 after acquiring an additional 189,251 shares in the last quarter. 94.47% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This story was published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of US and international copyright and trademark law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/01/04/insider-selling-concho-resources-inc-cxo-director-sells-4000-shares-of-stock.html.
Concho Resources Company Profile
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.
Receive News & Ratings for Concho Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concho Resources and related companies with MarketBeat.com's FREE daily email newsletter.