Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Concho Resources (NYSE:CXO) Stock Price
News headlines about Concho Resources (NYSE:CXO) have been trending somewhat positive recently, Accern Sentiment Analysis reports. The research group scores the sentiment of media coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Concho Resources earned a media sentiment score of 0.06 on Accern’s scale. Accern also assigned media stories about the oil and natural gas company an impact score of 47.7107732453947 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the news articles that may have effected Accern’s rankings:
- Buy Consensus rating on stock: Concho Resources Inc. (CXO) – Street Observer (press release) (streetobserver.com)
- Chris Davis Peppers Portfolio With 4 Stocks in 2nd Quarter – GuruFocus.com (gurufocus.com)
- Concho Resources Inc. (CXO) Ownership Up in Latest Report from Norges Bank – Modern Readers (modernreaders.com)
- Concho Resources, Inc. :CXO-US: Earnings Analysis: Q2, 2017 By the Numbers : August 10, 2017 (finance.yahoo.com)
- Chris Davis Peppers Portfolio With 4 Small Positions in 2nd Quarter (finance.yahoo.com)
Shares of Concho Resources (NYSE CXO) traded down 2.30% during midday trading on Thursday, reaching $116.09. The company’s stock had a trading volume of 1,510,780 shares. Concho Resources has a 52 week low of $112.73 and a 52 week high of $147.55. The stock has a market capitalization of $17.13 billion, a PE ratio of 26.94 and a beta of 1.09. The stock has a 50-day moving average price of $123.16 and a 200 day moving average price of $128.84.
Concho Resources (NYSE:CXO) last released its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The firm had revenue of $567 million during the quarter, compared to analysts’ expectations of $626.09 million. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. The business’s revenue for the quarter was up 43.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 earnings per share. Equities analysts forecast that Concho Resources will post $1.58 earnings per share for the current year.
A number of analysts have commented on the company. BMO Capital Markets reiterated a “buy” rating and set a $180.00 target price on shares of Concho Resources in a research report on Monday, May 15th. Jefferies Group LLC set a $140.00 price objective on Concho Resources and gave the company a “hold” rating in a research report on Wednesday, May 17th. Piper Jaffray Companies restated an “overweight” rating and issued a $172.00 price objective (up from $171.00) on shares of Concho Resources in a research report on Wednesday, May 17th. Royal Bank Of Canada restated a “buy” rating and issued a $178.00 price objective on shares of Concho Resources in a research report on Friday, May 12th. Finally, Stifel Nicolaus started coverage on Concho Resources in a research report on Wednesday, April 12th. They issued a “buy” rating and a $206.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $152.65.
In related news, Director Lawrence J. Nagy sold 120,000 shares of Concho Resources stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $0.27, for a total transaction of $32,400.00. 1.20% of the stock is currently owned by company insiders.
About Concho Resources
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.
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