The President of Concho Resources (CXO) is Buying Shares


Today, the President of Concho Resources (CXO), Jack Harper, bought shares of CXO for $654K.

Following this transaction Jack Harper’s holding in the company was increased by 6.23% to a total of $11.37 million. This is Harper’s first Buy trade following 3 Sell transactions.

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Based on Concho Resources’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.13 billion and GAAP net loss of $97 million. In comparison, last year the company earned revenue of $945 million and had a net profit of $136 million. CXO’s market cap is $13.37B and the company has a P/E ratio of 26.89. Currently, Concho Resources has an average volume of 10.1M.

Based on 13 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $128.36, reflecting a 88.8% upside. 11 different firms, including Barclays and Citigroup, currently also have a Buy rating on the stock.

The insider sentiment on Concho Resources has been positive according to 57 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

Jack Harper’s trades have generated a -19.6% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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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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