Saturday, November 28, 2020

BofA/Merrill Downgrade Concho Resources Inc. [CXO]. What else is Wall St. saying?

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Concho Resources Inc. [NYSE: CXO] loss -10.16% or -7.35 points to close at $64.98 with a heavy trading volume of 4385313 shares. It opened the trading session at $67.64, the shares rose to $67.98 and dropped to $64.325, the range by which the price of stock traded the whole day. The daily chart for CXO points out that the company has recorded -15.06% loss over the past six months. However, it is still -96.14% lower than its most recent low trading price.

If we look at the average trading volume of 2.96M shares, CXO reached to a volume of 4385313 in the most recent trading day, which is why market watchdogs consider the stock to be active.


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Here is what top equities market gurus are saying about Concho Resources Inc. [CXO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CXO shares is $71.77 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CXO stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA/Merrill have made an estimate for Concho Resources Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 09, 2020. The new note on the price target was released on May 05, 2020, representing the official price target for Concho Resources Inc. stock.

The Average True Range (ATR) for Concho Resources Inc. is set at 3.80, with the Price to Sales ratio for CXO stock in the period of the last 12 months amounting to 2.88. The Price to Book ratio for the last quarter was 1.51, with the Price to Cash per share for the same quarter was set at 0.84. Price to Free Cash Flow for CXO in the course of the last twelve months was 4.43 with Quick ratio for the last quarter at 2.10.

Trading performance analysis for CXO stock

Concho Resources Inc. [CXO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.16. With this latest performance, CXO shares gained by 10.81% in over the last four-week period, additionally sinking by -15.06% over the last 6 months – not to mention a drop of -34.69% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CXO stock in for the last two-week period is set at 59.41, with the RSI for the last a single of trading hit 58.92, and the three-weeks RSI is set at 58.25 for Concho Resources Inc. [CXO]. The present Moving Average for the last 50 days of trading for this stock 54.75, while it was recorded at 67.23 for the last single week of trading, and 67.26 for the last 200 days.

Concho Resources Inc. [CXO]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Concho Resources Inc. [CXO] shares currently have an operating margin of +19.84 and a Gross Margin at +26.94. Concho Resources Inc.’s Net Margin is presently recorded at -15.37.

Return on Total Capital for CXO is now 4.06, given the latest momentum, and Return on Invested Capital for the company is -3.16. Return on Equity for this stock declined to -3.86, with Return on Assets sitting at -2.69. When it comes to the capital structure of this company, Concho Resources Inc. [CXO] has a Total Debt to Total Equity ratio set at 22.43. Additionally, CXO Total Debt to Total Capital is recorded at 18.32, with Total Debt to Total Assets ending up at 15.65. Long-Term Debt to Equity for the company is recorded at 22.35, with the Long-Term Debt to Total Capital now at 18.25.

Reflecting on the efficiency of the workforce at the company, Concho Resources Inc. [CXO] managed to generate an average of -$485,891 per employee. Receivables Turnover for the company is 5.34 with a Total Asset Turnover recorded at a value of 0.18.Concho Resources Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.10 and a Current Ratio set at 2.20.

Concho Resources Inc. [CXO]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Concho Resources Inc. posted 0.69/share EPS, while the average EPS was predicted by analysts to be reported at 0.74/share.When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -6.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CXO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Concho Resources Inc. go to 19.00%.

An analysis of insider ownership at Concho Resources Inc. [CXO]

There are presently around $13,487 million, or 96.40% of CXO stock, in the hands of institutional investors. The top three institutional holders of CXO stocks are: VANGUARD GROUP INC with ownership of 23,215,090, which is approximately 3.044% of the company’s market cap and around 0.90% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 23,195,847 shares of the stock with an approximate value of $1.68 billion in CXO stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $1.64 billion in CXO stock with ownership of nearly -6.732% of the company’s market capitalization.

Positions in Concho Resources Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 177 institutional holders increased their position in Concho Resources Inc. [NYSE:CXO] by around 18,236,564 shares. Additionally, 270 investors decreased positions by around 20,329,294 shares, while 55 investors held positions by with 147,892,300 shares. The mentioned changes placed institutional holdings at 186,458,158 shares, according to the latest SEC report filing. CXO stock had 42 new institutional investments in for a total of 1,610,206 shares, while 117 institutional investors sold positions of 3,352,715 shares during the same period.

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