Concho Resources Inc. (NYSE:CXO) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, June 30th.
A number of other brokerages have also weighed in on CXO. BMO Capital Markets restated a “buy” rating and issued a $180.00 price objective on shares of Concho Resources in a report on Monday, May 15th. Jefferies Group LLC set a $140.00 price target on shares of Concho Resources and gave the company a “hold” rating in a report on Wednesday, May 17th. Piper Jaffray Companies reiterated an “overweight” rating and set a $172.00 price target (up from $171.00) on shares of Concho Resources in a report on Wednesday, May 17th. Royal Bank Of Canada reiterated a “buy” rating and set a $178.00 price target on shares of Concho Resources in a report on Friday, May 12th. Finally, Zacks Investment Research upgraded shares of Concho Resources from a “hold” rating to a “buy” rating and set a $148.00 price objective for the company in a report on Friday, March 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the stock. Concho Resources presently has an average rating of “Buy” and a consensus price target of $154.10.
Concho Resources (CXO) traded down 1.17% during trading on Friday, hitting $130.56. 1,321,122 shares of the stock traded hands. The stock has a market cap of $19.21 billion, a PE ratio of 89.86 and a beta of 1.08. The company has a 50-day moving average price of $122.56 and a 200-day moving average price of $129.66. Concho Resources has a 12 month low of $112.73 and a 12 month high of $147.55.
Concho Resources (NYSE:CXO) last released its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.18. The business had revenue of $612 million during the quarter, compared to analysts’ expectations of $607.71 million. Concho Resources had a net margin of 10.60% and a return on equity of 2.44%. The business’s quarterly revenue was up 115.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) EPS. Equities research analysts expect that Concho Resources will post $1.52 EPS for the current year.
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In other Concho Resources news, Director Lawrence J. Nagy sold 120,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $0.27, for a total transaction of $32,400.00. 1.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. boosted its position in Concho Resources by 12.4% in the fourth quarter. Macquarie Group Ltd. now owns 12,380 shares of the oil and natural gas company’s stock valued at $1,641,000 after buying an additional 1,370 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Concho Resources during the fourth quarter valued at about $627,000. Kentucky Retirement Systems acquired a new position in shares of Concho Resources during the fourth quarter valued at $1,405,000. Quadrature Capital Ltd boosted its position in shares of Concho Resources by 642.6% in the fourth quarter. Quadrature Capital Ltd now owns 35,610 shares of the oil and natural gas company’s stock valued at $4,721,000 after buying an additional 30,815 shares during the period. Finally, Security Asset Management boosted its position in shares of Concho Resources by 3.6% in the fourth quarter. Security Asset Management now owns 15,272 shares of the oil and natural gas company’s stock valued at $2,025,000 after buying an additional 532 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.
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.
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