Concho Resources (CXO) Given a $196.00 Price Target by Stifel Nicolaus Analysts

Stifel Nicolaus set a $196.00 price target on Concho Resources (NYSE:CXO) in a research report released on Tuesday morning. The firm currently has a buy rating on the oil and natural gas company’s stock.

CXO has been the subject of a number of other reports. Deutsche Bank began coverage on shares of Concho Resources in a research report on Thursday, February 1st. They issued a hold rating and a $171.00 price target for the company. SunTrust Banks downgraded shares of Concho Resources from a buy rating to a hold rating and set a $180.00 price target for the company. in a research report on Tuesday, February 6th. They noted that the move was a valuation call. KeyCorp lifted their price target on shares of Concho Resources from $165.00 to $175.00 and gave the company a buy rating in a research report on Monday. KLR Group downgraded shares of Concho Resources to a hold rating and set a $154.00 price target for the company. in a research report on Wednesday, December 27th. Finally, Piper Jaffray reiterated a buy rating and issued a $170.00 price target on shares of Concho Resources in a research report on Tuesday, January 9th. 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 price target of $171.62.

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NYSE CXO opened at $151.71 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.51 and a quick ratio of 0.50. Concho Resources has a 1-year low of $106.73 and a 1-year high of $162.91. The company has a market capitalization of $23,427.51, a PE ratio of 74.13 and a beta of 0.97.

Concho Resources (NYSE:CXO) last released its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $720.51 million. During the same period in the previous year, the business earned $0.20 earnings per share. The firm’s quarterly revenue was up 48.6% on a year-over-year basis. sell-side analysts anticipate that Concho Resources will post 3.72 earnings per share for the current year.

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

Several hedge funds and other institutional investors have recently bought and sold shares of CXO. Jennison Associates LLC grew its stake in shares of Concho Resources by 10.0% during the fourth quarter. Jennison Associates LLC now owns 6,201,680 shares of the oil and natural gas company’s stock worth $931,616,000 after buying an additional 561,485 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Concho Resources during the fourth quarter worth $63,152,000. BlackRock Inc. grew its stake in shares of Concho Resources by 4.3% during the fourth quarter. BlackRock Inc. now owns 9,749,957 shares of the oil and natural gas company’s stock worth $1,464,638,000 after buying an additional 402,681 shares during the last quarter. OppenheimerFunds Inc. grew its stake in shares of Concho Resources by 3,704.2% during the fourth quarter. OppenheimerFunds Inc. now owns 297,754 shares of the oil and natural gas company’s stock worth $44,729,000 after buying an additional 289,927 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its stake in shares of Concho Resources by 250.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 235,851 shares of the oil and natural gas company’s stock worth $35,430,000 after buying an additional 168,551 shares during the last quarter. 95.78% of the stock is currently 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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