BMO Capital Markets reissued their buy rating on shares of Concho Resources (NYSE:CXO) in a research note released on Sunday morning. The firm currently has a $200.00 target price on the oil and natural gas company’s stock.

CXO has been the topic of a number of other research reports. Jefferies Group set a $173.00 price target on shares of Concho Resources and gave the company a buy rating in a report on Wednesday, December 20th. Stifel Nicolaus set a $185.00 price target on shares of Concho Resources and gave the company a buy rating in a report on Thursday, October 5th. Zacks Investment Research upgraded shares of Concho Resources from a hold rating to a buy rating and set a $155.00 price objective on the stock in a research report on Friday, December 15th. KLR Group downgraded shares of Concho Resources to a hold rating and set a $154.00 price objective on the stock. in a research report on Wednesday, December 27th. Finally, Piper Jaffray Companies restated a buy rating and set a $170.00 price objective on shares of Concho Resources in a research report on Tuesday, January 9th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Concho Resources currently has an average rating of Buy and an average price target of $157.42.

Concho Resources (NYSE:CXO) traded up $1.23 during trading hours on Friday, hitting $159.09. 879,400 shares of the stock were exchanged, compared to its average volume of 992,400. Concho Resources has a 1 year low of $106.73 and a 1 year high of $159.52. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $23,656.05, a PE ratio of 42.31 and a beta of 1.08.

Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.19. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The firm had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $614.12 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. sell-side analysts forecast that Concho Resources will post 1.86 EPS for the current year.

In other Concho Resources news, Director Ray M. Poage sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $150.87, for a total value of $603,480.00. Following the transaction, the director now directly owns 24,799 shares in the company, valued at $3,741,425.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.99% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. C M Bidwell & Associates Ltd. raised its position in Concho Resources by 1.4% in the second quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock worth $182,000 after acquiring an additional 20 shares during the period. Private Advisor Group LLC raised its position in Concho Resources by 2.5% in the second quarter. Private Advisor Group LLC now owns 2,501 shares of the oil and natural gas company’s stock worth $304,000 after acquiring an additional 60 shares during the period. Nordea Investment Management AB raised its position in Concho Resources by 4.5% in the third quarter. Nordea Investment Management AB now owns 8,324 shares of the oil and natural gas company’s stock worth $1,096,000 after acquiring an additional 356 shares during the period. Texas Capital Bancshares Inc. TX raised its position in Concho Resources by 5.5% in the third quarter. Texas Capital Bancshares Inc. TX now owns 7,274 shares of the oil and natural gas company’s stock worth $958,000 after acquiring an additional 380 shares during the period. Finally, Comerica Bank raised its position in Concho Resources by 0.8% in the third quarter. Comerica Bank now owns 47,166 shares of the oil and natural gas company’s stock worth $6,264,000 after acquiring an additional 382 shares during the period. Institutional investors and hedge funds own 94.50% of the company’s stock.

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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.

Analyst Recommendations for Concho Resources (NYSE:CXO)

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