Shares of Concho Resources Inc. (NYSE:CXO) have been assigned a consensus rating of “Buy” from the twenty-six ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $153.26.
A number of brokerages have issued reports on CXO. Barclays PLC decreased their price target on Concho Resources from $125.00 to $124.00 and set an “overweight” rating for the company in a report on Tuesday. Royal Bank Of Canada reissued a “buy” rating and issued a $178.00 price target on shares of Concho Resources in a report on Friday, May 12th. Stifel Nicolaus reissued a “buy” rating and issued a $192.00 price target on shares of Concho Resources in a report on Friday, July 14th. Bank of America Corporation downgraded Concho Resources from a “buy” rating to a “neutral” rating and decreased their price target for the company from $155.00 to $128.00 in a report on Friday, June 30th. Finally, BidaskClub raised Concho Resources from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th.
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Shares of Concho Resources (CXO) traded up 1.52% during trading on Friday, hitting $117.92. 2,098,848 shares of the stock traded hands. The stock has a 50 day moving average of $123.01 and a 200 day moving average of $129.36. The firm has a market cap of $17.54 billion, a price-to-earnings ratio of 27.21 and a beta of 1.09. Concho Resources has a 52-week low of $112.73 and a 52-week high of $147.55.
Concho Resources (NYSE:CXO) last released its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. The firm had revenue of $567 million during the quarter, compared to the consensus estimate of $626.09 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue was up 43.2% compared to the same quarter last year. Analysts expect that Concho Resources will post $1.57 EPS for the current year.
In other news, Director Lawrence J. Nagy sold 120,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $0.27, for a total value of $32,400.00. Corporate insiders own 1.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Balentine LLC boosted its position in shares of Concho Resources by 176.7% in the first quarter. Balentine LLC now owns 830 shares of the oil and natural gas company’s stock valued at $107,000 after buying an additional 530 shares in the last quarter. Exane Derivatives boosted its position in shares of Concho Resources by 247.2% in the second quarter. Exane Derivatives now owns 1,038 shares of the oil and natural gas company’s stock valued at $126,000 after buying an additional 739 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in shares of Concho Resources by 22.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,090 shares of the oil and natural gas company’s stock valued at $132,000 after buying an additional 200 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Concho Resources during the first quarter valued at approximately $174,000. Finally, Baird Financial Group Inc. purchased a new position in shares of Concho Resources during the first quarter valued at approximately $201,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.
Concho Resources Company Profile
Concho Resources Inc is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.
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