Concho Resources (NYSE:CXO)‘s stock had its “buy” rating reaffirmed by research analysts at Piper Jaffray Companies in a research report issued on Tuesday, January 9th. They currently have a $170.00 target price on the oil and natural gas company’s stock. Piper Jaffray Companies’ price target would suggest a potential upside of 10.01% from the stock’s previous close.
A number of other brokerages also recently issued reports on CXO. Barclays boosted their price objective on Concho Resources from $124.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Zacks Investment Research cut Concho Resources from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. KLR Group cut Concho Resources from a “buy” rating to a “hold” rating and set a $154.00 price target on the stock. in a report on Thursday, December 21st. ValuEngine raised Concho Resources from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, SunTrust Banks set a $145.00 price objective on Concho Resources and gave the stock a “buy” rating in a report on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $166.80.
Shares of Concho Resources (NYSE:CXO) opened at $154.53 on Tuesday. The stock has a market capitalization of $22,980.00, a PE ratio of 40.67 and a beta of 1.00. Concho Resources has a 52 week low of $106.73 and a 52 week high of $162.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66.
Concho Resources (NYSE:CXO) last released its quarterly earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.19. The business had revenue of $627.00 million during the quarter, compared to the consensus estimate of $614.12 million. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. equities research analysts anticipate that Concho Resources will post 1.89 earnings per share for the current year.
In other Concho Resources news, Director Ray M. Poage sold 4,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $150.87, for a total value of $603,480.00. Following the transaction, the director now owns 24,799 shares of the company’s stock, valued at approximately $3,741,425.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.99% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. grew its position in shares of Concho Resources by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 2,570 shares of the oil and natural gas company’s stock worth $312,000 after buying an additional 203 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Concho Resources by 1.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 3,502 shares of the oil and natural gas company’s stock worth $426,000 after buying an additional 35 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Concho Resources by 37.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,854 shares of the oil and natural gas company’s stock worth $226,000 after buying an additional 501 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Concho Resources during the 2nd quarter worth $923,000. Finally, Tredje AP fonden grew its position in shares of Concho Resources by 110.5% during the 2nd quarter. Tredje AP fonden now owns 9,957 shares of the oil and natural gas company’s stock worth $1,210,000 after buying an additional 5,227 shares in the last quarter. 94.44% of the stock is currently owned by institutional investors.
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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.
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