Concho Resources Inc. (NYSE:CXO) – SunTrust Banks raised their FY2016 earnings per share (EPS) estimates for Concho Resources in a research note issued on Thursday. SunTrust Banks analyst N. Dingmann now expects that the brokerage will earn $0.42 per share for the year, up from their previous estimate of $0.37. SunTrust Banks currently has a “Buy” rating and a $155.00 target price on the stock.

Other analysts also recently issued research reports about the stock. KLR Group boosted their target price on shares of Concho Resources from $138.00 to $153.00 and gave the stock an “accumulate” rating in a research report on Wednesday, August 3rd. Johnson Rice initiated coverage on shares of Concho Resources in a research report on Tuesday, October 4th. They set an “accumulate” rating on the stock. Morgan Stanley reaffirmed a “buy” rating and issued a $187.00 price objective on shares of Concho Resources in a report on Tuesday, August 16th. Deutsche Bank AG upped their price objective on shares of Concho Resources from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $145.00 price objective on shares of Concho Resources in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $139.04.

Earnings History and Estimates for Concho Resources (NYSE:CXO)

Concho Resources (NYSE:CXO) opened at 126.89 on Friday. Concho Resources has a 1-year low of $69.94 and a 1-year high of $143.60. The company’s 50-day moving average is $133.86 and its 200 day moving average is $126.06. The stock’s market capitalization is $17.08 billion.

Concho Resources (NYSE:CXO) last posted its earnings results on Tuesday, November 8th. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.14. The company earned $430.55 million during the quarter, compared to analysts’ expectations of $69.10 million. Concho Resources had a negative net margin of 89.23% and a positive return on equity of 0.93%. Concho Resources’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the company posted $0.33 earnings per share.

Several large investors have recently made changes to their positions in CXO. Checchi Capital Advisers LLC raised its stake in shares of Concho Resources by 1.7% in the second quarter. Checchi Capital Advisers LLC now owns 1,107 shares of the company’s stock worth $132,000 after buying an additional 18 shares in the last quarter. Syntal Capital Partners LLC raised its position in shares of Concho Resources by 1.0% in the second quarter. Syntal Capital Partners LLC now owns 2,755 shares of the company’s stock valued at $328,000 after buying an additional 26 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in shares of Concho Resources by 0.9% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 4,972 shares of the company’s stock valued at $593,000 after buying an additional 43 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in shares of Concho Resources by 1.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,281 shares of the company’s stock valued at $352,000 after buying an additional 54 shares during the period. Finally, Cypress Asset Management Inc. TX raised its position in shares of Concho Resources by 5.9% in the second quarter. Cypress Asset Management Inc. TX now owns 2,274 shares of the company’s stock valued at $271,000 after buying an additional 126 shares during the period. 92.30% of the stock is owned by hedge funds and other institutional investors.

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 operations are focused in the Permian Basin of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States.

5 Day Chart for NYSE:CXO

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