Concho Resources Inc. (NYSE:CXO) shares reached a new 52-week high during trading on Monday . The stock traded as high as $132.33 and last traded at $130.88, with a volume of 518,627 shares. The stock had previously closed at $128.92.

CXO has been the topic of several analyst reports. KLR Group lifted their price target on Concho Resources from $138.00 to $153.00 and gave the stock an “accumulate” rating in a report on Wednesday, August 3rd. Seaport Global Securities upgraded Concho Resources from a “neutral” rating to an “accumulate” rating and set a $140.00 price target on the stock in a report on Tuesday, June 7th. Credit Suisse Group AG reiterated a “buy” rating on shares of Concho Resources in a report on Sunday, May 8th. Citigroup Inc. lifted their price target on Concho Resources from $124.00 to $143.00 and gave the stock a “buy” rating in a report on Monday, May 16th. Finally, Deutsche Bank AG lifted their price target on Concho Resources from $132.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $127.00.

The firm’s market capitalization is $16.91 billion. The firm has a 50 day moving average of $121.82 and a 200-day moving average of $109.95.

Concho Resources (NYSE:CXO) last announced its earnings results on Tuesday, August 2nd. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.27. During the same period in the previous year, the firm earned $0.38 EPS. The business had revenue of $396.30 million for the quarter, compared to the consensus estimate of $482.50 million. The firm’s revenue was down 26.3% on a year-over-year basis. On average, equities analysts forecast that Concho Resources Inc. will post ($0.07) EPS for the current year.

In other Concho Resources news, Director Steven L. Beal sold 16,250 shares of Concho Resources stock in a transaction on Monday, June 6th. The stock was sold at an average price of $119.75, for a total transaction of $1,945,937.50. Following the sale, the director now owns 73,652 shares of the company’s stock, valued at approximately $8,819,827. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A number of hedge funds have made changes to their positions in CXO. Utah Retirement Systems increased its stake in shares of Concho Resources by 7.4% in the fourth quarter. Utah Retirement Systems now owns 23,119 shares of the company’s stock valued at $2,147,000 after buying an additional 1,600 shares during the last quarter. KBC Group NV increased its stake in shares of Concho Resources by 5.1% in the fourth quarter. KBC Group NV now owns 38,097 shares of the company’s stock valued at $3,538,000 after buying an additional 1,843 shares during the last quarter. Roosevelt Investment Group Inc. increased its stake in shares of Concho Resources by 527.2% in the fourth quarter. Roosevelt Investment Group Inc. now owns 116,550 shares of the company’s stock valued at $10,823,000 after buying an additional 97,967 shares during the last quarter. Ashburton Jersey Ltd acquired a new stake in shares of Concho Resources during the fourth quarter valued at $1,277,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Concho Resources by 493.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 179,905 shares of the company’s stock valued at $16,706,000 after buying an additional 149,610 shares during the last quarter.

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 operations are focused in the Permian Basin of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States.

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