Somewhat Positive News Coverage Somewhat Unlikely to Affect Concho Resources (CXO) Share Price
News coverage about Concho Resources (NYSE:CXO) has trended somewhat positive recently, according to Accern Sentiment. The research firm identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded 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 0.16 on Accern’s scale. Accern also assigned press coverage about the oil and natural gas company an impact score of 45.8813627126163 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the news stories that may have effected Accern Sentiment’s scoring:
- Why Concho Resources (CXO) Stock Might be a Great Pick – Nasdaq (nasdaq.com)
- ETFs with exposure to Concho Resources, Inc. : October 12, 2017 (finance.yahoo.com)
- Concho Resources Inc. (CXO) Forecasted to Post Q3 2017 Earnings of $0.23 Per Share (americanbankingnews.com)
- Concho Resources Inc. (CXO) – Overbought Stock to Focus – Wall Street Morning (wallstreetmorning.com)
Shares of Concho Resources (NYSE CXO) opened at 133.39 on Friday. The company has a market cap of $19.68 billion, a PE ratio of 30.96 and a beta of 1.14. The company has a 50-day moving average of $123.97 and a 200 day moving average of $124.33. Concho Resources has a 12 month low of $106.73 and a 12 month high of $147.55.
Concho Resources (NYSE:CXO) last issued its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. The business had revenue of $567.00 million during the quarter, compared to the consensus estimate of $626.09 million. During the same period last year, the company earned $0.26 EPS. The company’s revenue for the quarter was up 43.2% on a year-over-year basis. On average, analysts anticipate that Concho Resources will post $1.60 earnings per share for the current year.
A number of brokerages have recently issued reports on CXO. Stifel Nicolaus set a $185.00 price target on shares of Concho Resources and gave the company a “buy” rating in a report on Thursday, October 5th. Barclays PLC raised their price target on shares of Concho Resources from $124.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday. Jefferies Group LLC raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a report on Monday, October 9th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $158.00 price target on shares of Concho Resources in a report on Friday, September 29th. Finally, Cowen and Company set a $145.00 price target on shares of Concho Resources and gave the company a “hold” rating in a report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $151.06.
In related news, VP E Joseph Wright sold 16,696 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the completion of the sale, the vice president now directly owns 132,388 shares of the company’s stock, valued at approximately $15,203,437.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.99% of the stock is currently owned by company insiders.
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.
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