Press coverage about Concho Resources (NYSE:CXO) has been trending somewhat positive recently, Accern Sentiment Analysis reports. Accern ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Concho Resources earned a coverage optimism score of 0.20 on Accern’s scale. Accern also assigned news stories about the oil and natural gas company an impact score of 45.7583984850824 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the news articles that may have effected Accern’s rankings:
Concho Resources stock traded up $0.22 during trading hours on Thursday, hitting $146.99. 1,608,755 shares of the stock were exchanged, compared to its average volume of 1,703,415. The company has a current ratio of 0.51, a quick ratio of 0.50 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $20,935.10, a price-to-earnings ratio of 69.43 and a beta of 0.97. Concho Resources has a 12 month low of $106.73 and a 12 month high of $162.91.
Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.20. Concho Resources had a net margin of 36.97% and a return on equity of 3.61%. The firm had revenue of $780.00 million for the quarter, compared to analysts’ expectations of $720.51 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The company’s quarterly revenue was up 48.6% compared to the same quarter last year. equities research analysts predict that Concho Resources will post 3.74 EPS for the current year.
A number of research analysts have weighed in on CXO shares. Zacks Investment Research raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Friday, December 15th. Jefferies Group set a $173.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research report on Wednesday, December 20th. Royal Bank of Canada set a $167.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research report on Wednesday, December 20th. KLR Group lowered shares of Concho Resources from a “buy” rating to a “hold” rating and set a $154.00 price objective for the company. in a research report on Thursday, December 21st. Finally, Bank of America raised shares of Concho Resources from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Thursday, January 4th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Concho Resources currently has an average rating of “Buy” and an average price target of $171.10.
In related news, Chairman Timothy A. Leach sold 40,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $148.14, for a total value of $5,925,600.00. Following the transaction, the chairman now directly owns 737,837 shares in the company, valued at $109,303,173.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP E Joseph Wright sold 83,759 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $148.27, for a total transaction of $12,418,946.93. Following the completion of the transaction, the vice president now owns 159,268 shares in the company, valued at $23,614,666.36. The disclosure for this sale can be found here. 0.99% of the stock is owned by corporate insiders.
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About Concho Resources
Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.
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