Concho Resources (NYSE:CXO) had its target price upped by research analysts at Barclays from $152.00 to $171.00 in a research note issued on Thursday. The brokerage presently has a “hold” rating on the oil and natural gas company’s stock. Barclays’ price target points to a potential upside of 27.05% from the company’s current price.

Several other brokerages have also issued reports on CXO. Piper Jaffray Companies reissued a “buy” rating and issued a $220.00 target price on shares of Concho Resources in a research report on Friday, July 20th. Williams Capital restated a “buy” rating and issued a $189.00 price target on shares of Concho Resources in a research note on Monday, July 23rd. ValuEngine downgraded Concho Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Morgan Stanley cut their price target on Concho Resources from $178.00 to $169.00 and set a “hold” rating on the stock in a research note on Monday, November 5th. Finally, Seaport Global Securities set a $145.00 price target on Concho Resources and gave the stock a “hold” rating in a research note on Wednesday, October 31st. Eight equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Concho Resources currently has a consensus rating of “Buy” and a consensus target price of $181.60.

Shares of NYSE:CXO opened at $134.59 on Thursday. Concho Resources has a 52-week low of $123.63 and a 52-week high of $163.11. The company has a market capitalization of $25.53 billion, a PE ratio of 64.40 and a beta of 1.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.55 and a quick ratio of 0.53.

Concho Resources (NYSE:CXO) last announced its earnings results on Tuesday, October 30th. The oil and natural gas company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.27. Concho Resources had a return on equity of 6.13% and a net margin of 26.92%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the company earned $0.45 EPS. The business’s revenue was up 90.1% compared to the same quarter last year. Equities research analysts forecast that Concho Resources will post 4.87 EPS for the current year.

In other Concho Resources news, Director Steven L. Beal sold 2,500 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $137.24, for a total transaction of $343,100.00. Following the sale, the director now directly owns 75,548 shares in the company, valued at approximately $10,368,207.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Erick Nelson sold 11,000 shares of the stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $133.98, for a total value of $1,473,780.00. Following the sale, the senior vice president now owns 51,058 shares in the company, valued at $6,840,750.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,500 shares of company stock worth $2,376,320. Company insiders own 1.10% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors boosted its stake in shares of Concho Resources by 18.6% in the 3rd quarter. Capital World Investors now owns 21,979,324 shares of the oil and natural gas company’s stock worth $3,357,342,000 after buying an additional 3,450,629 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Concho Resources by 8.2% in the 3rd quarter. Capital Research Global Investors now owns 18,785,086 shares of the oil and natural gas company’s stock worth $2,869,422,000 after buying an additional 1,416,319 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Concho Resources by 33.2% in the 3rd quarter. BlackRock Inc. now owns 13,286,147 shares of the oil and natural gas company’s stock worth $2,029,458,000 after buying an additional 3,315,173 shares during the last quarter. Capital International Investors boosted its stake in shares of Concho Resources by 6,733.1% in the 3rd quarter. Capital International Investors now owns 5,405,015 shares of the oil and natural gas company’s stock worth $825,616,000 after buying an additional 5,325,915 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Concho Resources by 38.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,960,732 shares of the oil and natural gas company’s stock worth $757,752,000 after buying an additional 1,377,981 shares during the last quarter. Institutional investors and hedge funds own 78.70% of the company’s stock.

About Concho Resources

Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.

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Analyst Recommendations for Concho Resources (NYSE:CXO)

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