Concho Resources Inc. (CXO) Receives Consensus Rating of “Buy” from Analysts
Shares of Concho Resources Inc. (NYSE:CXO) have been given a consensus recommendation of “Buy” by the twenty-five analysts that are currently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $163.11.
CXO has been the topic of several analyst reports. Goldman Sachs Group, Inc. (The) upped their price target on shares of Concho Resources from $165.00 to $169.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 22nd. Royal Bank of Canada increased their price objective on shares of Concho Resources from $168.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, February 22nd. Stifel Nicolaus increased their price objective on shares of Concho Resources from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Scotiabank reissued a “buy” rating and issued a $169.00 price objective on shares of Concho Resources in a research report on Wednesday, February 22nd. Finally, KLR Group reissued a “buy” rating and issued a $189.00 price objective (up from $176.00) on shares of Concho Resources in a research report on Wednesday, February 22nd.
ILLEGAL ACTIVITY WARNING: This news story was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another website, it was stolen and republished in violation of U.S. & international copyright laws. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/06/16/concho-resources-inc-cxo-receives-162-78-consensus-target-price-from-analysts-updated-updated.html.
In other Concho Resources news, Director Lawrence J. Nagy sold 120,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $0.27, for a total transaction of $32,400.00. Corporate insiders own 1.20% of the company’s stock.
A number of large investors have recently made changes to their positions in CXO. Seven Eight Capital LP purchased a new stake in shares of Concho Resources during the fourth quarter worth about $106,000. Balentine LLC increased its stake 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 worth $107,000 after buying an additional 530 shares during the last quarter. Elgethun Capital Management purchased a new stake in shares of Concho Resources during the fourth quarter worth about $133,000. Intellectus Partners LLC purchased a new stake in shares of Concho Resources during the fourth quarter worth about $133,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Concho Resources during the first quarter worth about $174,000. Hedge funds and other institutional investors own 93.17% of the company’s stock.
Concho Resources (CXO) traded up 0.35% on Monday, reaching $116.99. 1,724,647 shares of the company were exchanged. The stock has a 50 day moving average of $127.49 and a 200 day moving average of $132.81. Concho Resources has a 12-month low of $114.33 and a 12-month high of $147.55. The firm has a market capitalization of $17.21 billion, a PE ratio of 80.52 and a beta of 1.03.
Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.18. Concho Resources had a net margin of 10.60% and a return on equity of 2.44%. The firm had revenue of $612 million for the quarter, compared to analyst estimates of $607.71 million. During the same period in the prior year, the firm posted ($0.05) earnings per share. The company’s quarterly revenue was up 115.5% compared to the same quarter last year. Equities analysts anticipate that Concho Resources will post $1.64 EPS for the current year.
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.
Receive News & Stock Ratings for Concho Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concho Resources Inc. and related stocks with our FREE daily email newsletter.