Concho Resources Inc. (NYSE:CXO) had its price objective reduced by Piper Jaffray Companies from $167.00 to $142.00 in a research report sent to investors on Monday morning. They currently have an overweight rating on the oil and natural gas company’s stock.

CXO has been the subject of a number of other research reports. Barclays PLC decreased their target price on shares of Concho Resources from $125.00 to $124.00 and set an overweight rating for the company in a research report on Tuesday, August 8th. Stifel Nicolaus reiterated a buy rating and issued a $192.00 target price on shares of Concho Resources in a research report on Friday, July 14th. Bank of America Corporation lowered shares of Concho Resources from a buy rating to a neutral rating and decreased their target price for the company from $155.00 to $128.00 in a research report on Friday, June 30th. BidaskClub upgraded shares of Concho Resources from a hold rating to a buy rating in a research report on Wednesday, July 19th. Finally, Zacks Investment Research lowered shares of Concho Resources from a hold rating to a sell rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $146.76.

Shares of Concho Resources (NYSE:CXO) opened at 126.30 on Monday. Concho Resources has a one year low of $106.73 and a one year high of $147.55. The stock has a market cap of $18.63 billion, a P/E ratio of 29.31 and a beta of 1.12. The stock has a 50 day moving average of $114.94 and a 200 day moving average of $123.77.

Concho Resources (NYSE:CXO) last released its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.43 by $0.09. The business had revenue of $567.00 million during the quarter, compared to analyst estimates of $626.09 million. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The company’s quarterly revenue was up 43.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. Equities analysts expect that Concho Resources will post $1.60 EPS for the current fiscal year.

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In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the completion of the sale, the vice president now directly owns 132,388 shares of the company’s stock, valued at $15,203,437.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.99% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC lifted its stake in Concho Resources by 76.0% during the second quarter. Lord Abbett & CO. LLC now owns 156,800 shares of the oil and natural gas company’s stock valued at $19,056,000 after buying an additional 67,717 shares in the last quarter. Sentry Investment Management LLC lifted its stake in Concho Resources by 118.3% during the second quarter. Sentry Investment Management LLC now owns 11,681 shares of the oil and natural gas company’s stock valued at $1,420,000 after buying an additional 6,331 shares in the last quarter. Toronto Dominion Bank lifted its stake in Concho Resources by 25.6% during the second quarter. Toronto Dominion Bank now owns 50,192 shares of the oil and natural gas company’s stock valued at $6,098,000 after buying an additional 10,232 shares in the last quarter. Colony Group LLC lifted its stake in Concho Resources by 5.6% during the second quarter. Colony Group LLC now owns 72,139 shares of the oil and natural gas company’s stock valued at $8,767,000 after buying an additional 3,824 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its stake in Concho Resources by 10.1% during the second quarter. Sterling Capital Management LLC now owns 42,219 shares of the oil and natural gas company’s stock valued at $5,131,000 after buying an additional 3,871 shares in the last quarter. 92.36% of the stock is owned by institutional investors.

About Concho Resources

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.

Analyst Recommendations for Concho Resources (NYSE:CXO)

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