Traders sold shares of Concho Resources Inc (NYSE:CXO) on strength during trading hours on Friday. $46.39 million flowed into the stock on the tick-up and $68.90 million flowed out of the stock on the tick-down, for a money net flow of $22.51 million out of the stock. Of all equities tracked, Concho Resources had the 0th highest net out-flow for the day. Concho Resources traded up $2.89 for the day and closed at $137.73
A number of equities analysts have commented on the stock. ValuEngine downgraded shares of Concho Resources from a “buy” rating to a “hold” rating in a research note on Thursday, May 17th. JPMorgan Chase & Co. set a $180.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a research note on Tuesday, May 15th. Williams Capital assumed coverage on shares of Concho Resources in a research note on Monday, June 18th. They issued a “buy” rating and a $178.00 target price on the stock. Stifel Nicolaus set a $196.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a research note on Tuesday, April 24th. Finally, Stephens set a $217.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a research note on Tuesday, April 24th. Eight investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Concho Resources has a consensus rating of “Buy” and an average price target of $175.67.
The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.75 and a current ratio of 0.76. The company has a market cap of $27.00 billion, a PE ratio of 65.90 and a beta of 0.95.
In other news, Director Mark B. Puckett bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was bought at an average price of $134.39 per share, with a total value of $268,780.00. Following the completion of the transaction, the director now directly owns 28,535 shares of the company’s stock, valued at approximately $3,834,818.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.
A number of large investors have recently bought and sold shares of CXO. First Allied Advisory Services Inc. acquired a new stake in shares of Concho Resources in the first quarter worth $202,000. KC Investment Advisors LLC acquired a new stake in shares of Concho Resources in the second quarter worth $204,000. Commerce Bank acquired a new stake in Concho Resources during the first quarter valued at $205,000. Cornerstone Wealth Management LLC acquired a new stake in Concho Resources during the second quarter valued at $232,000. Finally, Advisor Partners LLC acquired a new stake in Concho Resources during the first quarter valued at $240,000. 97.44% of the stock is owned by institutional investors.
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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