Concho Resources (CXO) Given a $165.00 Price Target by SunTrust Banks Analysts

Concho Resources (NYSE:CXO) has been assigned a $165.00 target price by equities research analysts at SunTrust Banks in a research note issued to investors on Monday. The firm presently has a “hold” rating on the oil and natural gas company’s stock. SunTrust Banks’ price target points to a potential upside of 7.51% from the company’s previous close. SunTrust Banks also issued estimates for Concho Resources’ Q1 2018 earnings at $0.76 EPS, Q2 2018 earnings at $0.89 EPS, Q3 2018 earnings at $0.93 EPS, Q4 2018 earnings at $1.01 EPS and FY2018 earnings at $3.59 EPS.

Other equities analysts have also issued research reports about the stock. TheStreet raised shares of Concho Resources from a “c+” rating to a “b-” rating in a report on Tuesday, February 20th. Zacks Investment Research raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $157.00 target price on the stock in a report on Thursday, December 21st. Royal Bank of Canada set a $167.00 target price on shares of Concho Resources and gave the company a “buy” rating in a report on Wednesday, December 20th. Jefferies Group set a $173.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a report on Wednesday, December 20th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $200.00 price target on shares of Concho Resources in a report on Sunday, January 14th. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $171.24.

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CXO stock opened at $153.47 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.50 and a current ratio of 0.51. Concho Resources has a 52 week low of $106.73 and a 52 week high of $162.91. The firm has a market cap of $22,512.23, a P/E ratio of 73.43 and a beta of 0.97.

Concho Resources (NYSE:CXO) last released its earnings results on Tuesday, February 20th. The oil and natural gas company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.20. Concho Resources had a net margin of 36.97% and a return on equity of 3.61%. The company had revenue of $780.00 million for the quarter, compared to analyst estimates of $720.51 million. During the same quarter last year, the firm earned $0.20 EPS. The firm’s quarterly revenue was up 48.6% compared to the same quarter last year. research analysts expect that Concho Resources will post 3.73 earnings per share for the current year.

In other news, VP E Joseph Wright sold 83,759 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $148.27, for a total value of $12,418,946.93. Following the completion of the sale, the vice president now directly owns 159,268 shares of the company’s stock, valued at approximately $23,614,666.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Timothy A. Leach sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $148.14, for a total transaction of $5,925,600.00. Following the completion of the sale, the chairman now directly owns 737,837 shares of the company’s stock, valued at $109,303,173.18. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Several large investors have recently bought and sold shares of CXO. Janney Montgomery Scott LLC lifted its position in Concho Resources by 21.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 4,491 shares of the oil and natural gas company’s stock valued at $592,000 after acquiring an additional 793 shares during the period. Public Employees Retirement System of Ohio lifted its position in Concho Resources by 5.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 78,905 shares of the oil and natural gas company’s stock valued at $10,393,000 after acquiring an additional 4,091 shares during the period. Atlantic Trust Group LLC lifted its position in Concho Resources by 33.2% during the 3rd quarter. Atlantic Trust Group LLC now owns 100,220 shares of the oil and natural gas company’s stock valued at $13,202,000 after acquiring an additional 24,975 shares during the period. Nisa Investment Advisors LLC lifted its position in Concho Resources by 3.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 26,695 shares of the oil and natural gas company’s stock valued at $4,010,000 after acquiring an additional 1,000 shares during the period. Finally, Greylin Investment Mangement Inc. purchased a new position in Concho Resources during the 4th quarter valued at about $225,000. 95.74% of the stock is owned by hedge funds and other institutional investors.

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Concho Resources Company Profile

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.

Analyst Recommendations for Concho Resources (NYSE:CXO)

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