Concho Resources (NYSE:CXO) had its price objective raised by Barclays from $152.00 to $171.00 in a research report report published on Thursday. The brokerage currently has a hold rating on the oil and natural gas company’s stock.

A number of other analysts have also recently commented on the stock. Morgan Stanley upped their target price on shares of Concho Resources from $155.00 to $163.00 and gave the company a hold rating in a report on Wednesday, September 26th. Jefferies Financial Group set a $203.00 target price on shares of Concho Resources and gave the company a buy rating in a report on Friday, October 5th. SunTrust Banks raised shares of Concho Resources from a hold rating to a buy rating and upped their target price for the company from $155.00 to $170.00 in a report on Monday, September 24th. ValuEngine raised shares of Concho Resources from a hold rating to a buy rating in a report on Wednesday, September 19th. Finally, TheStreet raised shares of Concho Resources from a c+ rating to a b rating in a report on Friday, September 28th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $181.60.

Shares of CXO stock opened at $138.39 on Thursday. Concho Resources has a 12 month low of $123.63 and a 12 month high of $163.11. The company has a market cap of $27.71 billion, a price-to-earnings ratio of 66.22, a price-to-earnings-growth ratio of 0.97 and a beta of 1.00. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.55 and a quick ratio of 0.53.

Concho Resources (NYSE:CXO) last announced its earnings results on Tuesday, October 30th. The oil and natural gas company reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.27. Concho Resources had a net margin of 26.92% and a return on equity of 6.13%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company earned $0.45 earnings per share. The firm’s revenue was up 90.1% on a year-over-year basis. As a group, research analysts predict that Concho Resources will post 4.87 earnings per share for the current year.

In other news, Director Steven L. Beal sold 2,500 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $137.24, for a total value of $343,100.00. Following the completion of the sale, the director now directly owns 75,548 shares of the company’s stock, valued at $10,368,207.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Lee Price Moncrief sold 4,000 shares of the stock in a transaction on 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 directly owns 16,193 shares of the company’s stock, valued at $2,264,752.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,500 shares of company stock valued at $2,376,320. Corporate insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in CXO. Johnson Financial Group Inc. bought a new position in shares of Concho Resources during the third quarter worth $161,000. Itau Unibanco Holding S.A. bought a new position in shares of Concho Resources during the second quarter worth $166,000. Cerebellum GP LLC bought a new position in shares of Concho Resources during the third quarter worth $188,000. Summit X LLC bought a new position in shares of Concho Resources during the second quarter worth $203,000. Finally, KC Investment Advisors LLC bought a new position in shares of Concho Resources during the second quarter worth $204,000. 84.60% of the stock is owned by hedge funds and other institutional investors.

About Concho Resources

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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