RBC Capital Mkts Just Issued "Outperform" Rating on Concho Resources Inc (CXO)
- Author: Zachary Reyes Feb 24, 2017,
Feb 24, 2017, 17:12
Arconic Inc. has a consensus outperform rating from 8 Wall Street analysts, and the number of shares now sold short amount to at least 6.15% of shares outstanding. (NYSE:CXO) at Last Earnings was $134.06 as compared to the previous closing price of $140.19.
CXO has been the subject of several other reports. According to Thomson Reuters, sell-side analysts are forecasting a harmony target price of $66.20 on company shares. Artisan Partners Limited Partnership increased its stake in Concho Resources by 7.7% in the second quarter. (The) upped their target price on shares of Concho Resources from $165.00 to $169.00 and gave the company a "neutral" rating in a report on Wednesday. Goldman Sachs Group, Inc. The Average Volume for the stock is measured as 1.38 Million. Wall Street is only getting more bullish on the stock, with 4 of analysts who cover ARNC having a buy-equivalent rating. The company presently has a consensus rating of Buy and a consensus price target of $154.13. Concho Resources Inc. has a 52 week low of $86.63 and a 52 week high of $147.55. The stock now has a Market Cap of $13.15B. Currently, the company has SMA200 (200-day simple moving average) of 1.02 Percent.
On the company's financial health, Concho Resources Inc reported $0.20 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on Feb 21, 2017. EPS or Earning per Share stands at $-10.37. The company had revenue of $524.60 million for the quarter, compared to the consensus estimate of $546.19 million. The TTM operating margin is 0 percent. Concho Resources's revenue was up 34.8% compared to the same quarter past year.
Arconic Inc. (NYSE:ARNC) last session's volume of 4.52 million shares was lower than its average volume of 5.53 million shares. If you are accessing this piece on another publication, it was illegally stolen and republished in violation of U.S. and worldwide trademark and copyright laws. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/02/24/concho-resources-inc-cxo-pt-raised-to-190-00.html. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy A. Leach sold 46,150 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $135.15, for a total transaction of $3,784,200.00. Following the transaction, the chief accounting officer now directly owns 8,060 shares in the company, valued at approximately $1,112,602.40. The disclosure for this sale can be found here.
The majority of analysts covering the equity have either a Buy or Strong Buy recommendation on the stock, yielding a consensus score of 1.90. The firm owned 177,299 shares of the company's stock after buying an additional 124,271 shares during the period. Seven Eight Capital LP purchased a new stake in Concho Resources during the fourth quarter valued at about $106,000. Finally, Cypress Capital Management LLC WY bought a new stake in Concho Resources during the third quarter worth $158,000.
Concho Resources Inc opened for trading at $142.06 and hit $142.78 on the upside on Tuesday, eventually ending the session at $141.35, with a gain of 0.92% or 1.29 points. The Company's operating areas are located in the Permian Basin region of Southeast New Mexico and West Texas an onshore oil and natural gas basin in the United States.