Jefferies Financial Group restated their buy rating on shares of Concho Resources (NYSE:CXO) in a report published on Tuesday morning. Jefferies Financial Group currently has a $205.00 target price on the oil and natural gas company’s stock. Jefferies Financial Group also issued estimates for Concho Resources’ Q4 2018 earnings at $1.42 EPS, FY2018 earnings at $5.15 EPS, Q2 2019 earnings at $1.49 EPS, Q3 2019 earnings at $1.62 EPS, FY2019 earnings at $6.63 EPS, Q1 2020 earnings at $2.71 EPS, Q2 2020 earnings at $2.83 EPS and Q3 2020 earnings at $3.02 EPS.

Other research analysts have also recently issued research reports about the company. TheStreet upgraded Concho Resources from a c+ rating to a b rating in a research report on Friday, September 28th. Stifel Nicolaus reiterated a buy rating and issued a $208.00 price objective on shares of Concho Resources in a research report on Thursday, August 30th. KLR Group upgraded Concho Resources from a hold rating to a buy rating and increased their price objective for the stock from $166.00 to $178.00 in a research report on Tuesday, July 24th. Williams Capital reiterated a buy rating and issued a $189.00 price objective on shares of Concho Resources in a research report on Monday, July 23rd. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $220.00 price objective on shares of Concho Resources in a research report on Friday, July 20th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $181.00.

NYSE:CXO traded up $0.27 during trading hours on Tuesday, hitting $136.52. The company’s stock had a trading volume of 1,399,589 shares, compared to its average volume of 1,788,761. The stock has a market capitalization of $28.62 billion, a price-to-earnings ratio of 65.32 and a beta of 1.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.53 and a current ratio of 0.55. Concho Resources has a 52-week low of $123.63 and a 52-week high of $163.11.

Concho Resources (NYSE:CXO) last released its quarterly earnings data on Tuesday, October 30th. The oil and natural gas company reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Concho Resources had a return on equity of 6.13% and a net margin of 26.92%. Concho Resources’s revenue was up 90.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. On average, analysts predict that Concho Resources will post 4.87 EPS for the current year.

In related news, SVP Lee Price Moncrief sold 4,000 shares of Concho Resources stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $139.86, for a total transaction of $559,440.00. Following the completion of the sale, the senior vice president now owns 16,193 shares in the company, valued at approximately $2,264,752.98. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Erick Nelson sold 11,000 shares of Concho Resources stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $133.98, for a total value of $1,473,780.00. Following the sale, the senior vice president now owns 51,058 shares of the company’s stock, valued at approximately $6,840,750.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,500 shares of company stock valued at $2,376,320. Company insiders own 1.10% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Concho Resources by 23.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,218 shares of the oil and natural gas company’s stock worth $6,907,000 after purchasing an additional 8,515 shares in the last quarter. FMR LLC increased its position in Concho Resources by 2.4% during the 3rd quarter. FMR LLC now owns 4,904,659 shares of the oil and natural gas company’s stock worth $749,186,000 after purchasing an additional 113,875 shares in the last quarter. Rafferty Asset Management LLC increased its position in Concho Resources by 317.7% during the 3rd quarter. Rafferty Asset Management LLC now owns 9,909 shares of the oil and natural gas company’s stock worth $1,514,000 after purchasing an additional 7,537 shares in the last quarter. FIL Ltd increased its position in Concho Resources by 91.8% during the 3rd quarter. FIL Ltd now owns 1,297,215 shares of the oil and natural gas company’s stock worth $198,149,000 after purchasing an additional 620,955 shares in the last quarter. Finally, American International Group Inc. increased its position in Concho Resources by 40.1% during the 3rd quarter. American International Group Inc. now owns 77,005 shares of the oil and natural gas company’s stock worth $11,763,000 after purchasing an additional 22,053 shares in the last quarter. Hedge funds and other institutional investors own 77.84% of the company’s stock.

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.

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Analyst Recommendations for Concho Resources (NYSE:CXO)

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