JPMorgan Chase & Co. set a $158.00 target price on Concho Resources (NYSE:CXO) in a research report released on Friday morning. The brokerage currently has a buy rating on the oil and natural gas company’s stock.

A number of other brokerages also recently issued reports on CXO. Jefferies Financial Group set a $203.00 price objective on shares of Concho Resources and gave the company a buy rating in a research report on Friday, October 5th. TheStreet raised shares of Concho Resources from a c+ rating to a b rating in a research report on Friday, September 28th. Piper Jaffray Companies set a $193.00 price objective on shares of Concho Resources and gave the company a buy rating in a research report on Sunday, September 30th. Zacks Investment Research raised shares of Concho Resources from a hold rating to a buy rating and set a $169.00 price objective for the company in a research report on Tuesday, October 16th. Finally, Morgan Stanley boosted their price objective on shares of Concho Resources from $155.00 to $163.00 and gave the company a hold rating in a research report on Wednesday, September 26th. Nine investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $179.12.

Shares of CXO stock traded up $1.59 during mid-day trading on Friday, reaching $122.41. 2,053,885 shares of the company’s stock traded hands, compared to its average volume of 1,758,920. Concho Resources has a 12 month low of $117.74 and a 12 month high of $163.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.55 and a quick ratio of 0.53. The company has a market cap of $24.19 billion, a price-to-earnings ratio of 58.57, a PEG ratio of 0.84 and a beta of 1.02.

Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Tuesday, October 30th. The oil and natural gas company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.27. Concho Resources had a net margin of 26.92% and a return on equity of 6.13%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm posted $0.45 EPS. The company’s revenue for the quarter was up 90.1% compared to the same quarter last year. Equities research analysts expect that Concho Resources will post 4.97 EPS for the current year.

In related news, SVP Lee Price Moncrief sold 4,000 shares of Concho Resources stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $139.86, for a total transaction of $559,440.00. Following the transaction, 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 filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado lifted its stake in Concho Resources by 26.2% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 34,299 shares of the oil and natural gas company’s stock worth $5,239,000 after purchasing an additional 7,124 shares in the last quarter. Investec Asset Management LTD purchased a new stake in Concho Resources in the 2nd quarter worth $7,569,000. Tower Research Capital LLC TRC purchased a new stake in Concho Resources in the 2nd quarter worth $255,000. Paloma Partners Management Co lifted its stake in Concho Resources by 3,081.4% in the 2nd quarter. Paloma Partners Management Co now owns 39,503 shares of the oil and natural gas company’s stock worth $5,465,000 after purchasing an additional 40,828 shares in the last quarter. Finally, Precocity Capital LP purchased a new stake in Concho Resources in the 2nd quarter worth $10,376,000. Institutional investors and hedge funds own 94.29% 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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