Concho Resources Inc. (CXO) Receives $139.85 Consensus PT from Brokerages
Shares of Concho Resources Inc. (NYSE:CXO) have been assigned a consensus rating of “Buy” from the twenty-five brokerages that are currently covering the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $139.65.
A number of analysts have recently issued reports on CXO shares. Johnson Rice assumed coverage on shares of Concho Resources in a report on Tuesday, October 4th. They set an “accumulate” rating on the stock. Bank of America Corp. set a $151.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a research note on Tuesday, November 8th. Zacks Investment Research cut shares of Concho Resources from a “buy” rating to a “hold” rating in a research note on Thursday, November 3rd. Citigroup Inc. increased their price objective on shares of Concho Resources from $143.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, August 11th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $140.00 price objective on shares of Concho Resources in a research note on Thursday, August 4th.
A number of hedge funds and other institutional investors have recently bought and sold shares of CXO. Advisor Group Inc. acquired a new stake in Concho Resources during the second quarter valued at $102,000. University of Texas Investment Managment Co. acquired a new stake in Concho Resources during the second quarter valued at $110,000. Synovus Financial Corp acquired a new stake in Concho Resources during the third quarter valued at $139,000. Checchi Capital Advisers LLC increased its stake in Concho Resources by 1.7% in the second quarter. Checchi Capital Advisers LLC now owns 1,107 shares of the company’s stock valued at $132,000 after buying an additional 18 shares during the period. Finally, Cypress Capital Management LLC WY acquired a new stake in Concho Resources during the third quarter valued at $158,000. 92.22% of the stock is owned by institutional investors.
Concho Resources (NYSE:CXO) opened at 138.39 on Tuesday. Concho Resources has a 1-year low of $69.94 and a 1-year high of $143.60. The firm has a 50-day moving average of $134.35 and a 200-day moving average of $127.10. The stock’s market cap is $19.51 billion.
Concho Resources (NYSE:CXO) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.14. The firm had revenue of $430.55 million for the quarter, compared to the consensus estimate of $69.10 million. Concho Resources had a negative net margin of 89.23% and a positive return on equity of 0.93%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. Analysts expect that Concho Resources will post $0.43 EPS for the current fiscal year.
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About Concho Resources
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.
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