Concho Resources Inc (NYSE:CXO)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $76.50, but opened at $74.75. Concho Resources shares last traded at $72.39, with a volume of 3,127,076 shares.

Several brokerages have recently weighed in on CXO. TD Securities lowered their target price on Concho Resources from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Mitsubishi UFJ Financial Group lowered their target price on Concho Resources from $121.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Stifel Nicolaus set a $188.00 target price on Concho Resources and gave the stock a “buy” rating in a report on Friday, August 2nd. MKM Partners lowered their target price on Concho Resources from $131.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, Raymond James lowered their target price on Concho Resources from $150.00 to $130.00 and set a “strong-buy” rating on the stock in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Concho Resources presently has a consensus rating of “Buy” and an average price target of $141.65.

The stock has a market capitalization of $15.03 billion, a price-to-earnings ratio of 15.77 and a beta of 1.24. The business has a fifty day moving average of $75.75 and a 200 day moving average of $98.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.61 and a quick ratio of 0.59.

Concho Resources (NYSE:CXO) last released its quarterly earnings data on Wednesday, July 31st. The oil and natural gas company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.05). Concho Resources had a net margin of 11.63% and a return on equity of 4.12%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. On average, equities research analysts expect that Concho Resources Inc will post 3.11 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 9th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, August 8th. Concho Resources’s dividend payout ratio is presently 10.89%.

In other news, CFO Brenda R. Schroer purchased 1,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $69.67 per share, for a total transaction of $104,505.00. Following the completion of the purchase, the chief financial officer now directly owns 35,137 shares of the company’s stock, valued at $2,447,994.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan J. Helms purchased 700 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $70.12 per share, for a total transaction of $49,084.00. Following the completion of the purchase, the director now directly owns 5,137 shares of the company’s stock, valued at $360,206.44. The disclosure for this purchase can be found here. Insiders have acquired 16,200 shares of company stock worth $1,084,349 over the last 90 days. 1.10% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. Delek Group Ltd. lifted its stake in Concho Resources by 93.8% during the first quarter. Delek Group Ltd. now owns 144,592 shares of the oil and natural gas company’s stock worth $15,965,000 after purchasing an additional 70,000 shares in the last quarter. Penserra Capital Management LLC lifted its stake in Concho Resources by 303.2% during the first quarter. Penserra Capital Management LLC now owns 1,387 shares of the oil and natural gas company’s stock worth $153,000 after purchasing an additional 1,043 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Concho Resources by 39.1% during the second quarter. BNP Paribas Arbitrage SA now owns 53,177 shares of the oil and natural gas company’s stock worth $5,487,000 after purchasing an additional 14,944 shares in the last quarter. Westpac Banking Corp increased its position in shares of Concho Resources by 28.6% during the first quarter. Westpac Banking Corp now owns 71,454 shares of the oil and natural gas company’s stock worth $7,929,000 after acquiring an additional 15,883 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Concho Resources by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 2,548,154 shares of the oil and natural gas company’s stock worth $261,459,000 after acquiring an additional 181,294 shares during the period. Institutional investors own 95.46% of the company’s stock.

Concho Resources Company Profile (NYSE:CXO)

Concho Resources, Inc engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include Delaware Basin, and Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.

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