Cowen set a $165.00 target price on Concho Resources (NYSE:CXO) in a research note released on Thursday. The firm currently has a hold rating on the oil and natural gas company’s stock.

CXO has been the subject of several other research reports. Jefferies Group set a $173.00 price target on Concho Resources and gave the company a buy rating in a research note on Wednesday, December 20th. Stifel Nicolaus set a $185.00 price target on Concho Resources and gave the company a buy rating in a research note on Thursday, October 5th. Zacks Investment Research upgraded Concho Resources from a hold rating to a buy rating and set a $155.00 price target for the company in a research note on Friday, December 15th. KLR Group lowered Concho Resources to a hold rating and set a $154.00 price target for the company. in a research note on Wednesday, December 27th. Finally, Piper Jaffray Companies restated a buy rating and issued a $170.00 price target on shares of Concho Resources in a research note on Tuesday, January 9th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Concho Resources has an average rating of Buy and an average price target of $158.47.

Shares of Concho Resources (CXO) traded down $0.23 during trading on Thursday, hitting $156.19. The company had a trading volume of 1,080,000 shares, compared to its average volume of 1,020,000. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. Concho Resources has a 1 year low of $106.73 and a 1 year high of $160.37. The stock has a market cap of $23,220.00, a price-to-earnings ratio of 41.10 and a beta of 1.08.

Concho Resources (NYSE:CXO) last announced its quarterly earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.19. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The firm had revenue of $627.00 million during the quarter, compared to analyst estimates of $614.12 million. During the same quarter in the previous year, the business earned $0.32 EPS. Concho Resources’s revenue for the quarter was up 45.8% compared to the same quarter last year. sell-side analysts anticipate that Concho Resources will post 1.86 earnings per share for the current fiscal year.

In other news, Director Ray M. Poage sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $150.87, for a total transaction of $603,480.00. Following the transaction, the director now directly owns 24,799 shares in the company, valued at approximately $3,741,425.13. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.99% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Toronto Dominion Bank boosted its holdings in shares of Concho Resources by 12.4% during the 3rd quarter. Toronto Dominion Bank now owns 56,398 shares of the oil and natural gas company’s stock worth $7,428,000 after purchasing an additional 6,206 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Concho Resources by 33.6% during the 2nd quarter. Nordea Investment Management AB now owns 7,968 shares of the oil and natural gas company’s stock worth $968,000 after purchasing an additional 2,003 shares during the last quarter. Texas Capital Bancshares Inc. TX boosted its holdings in shares of Concho Resources by 5.5% during the 3rd quarter. Texas Capital Bancshares Inc. TX now owns 7,274 shares of the oil and natural gas company’s stock worth $958,000 after purchasing an additional 380 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Concho Resources by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 241,786 shares of the oil and natural gas company’s stock worth $31,851,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Concho Resources by 11.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 361,781 shares of the oil and natural gas company’s stock worth $47,654,000 after purchasing an additional 36,662 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.

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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.

Analyst Recommendations for Concho Resources (NYSE:CXO)

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