Stephens set a $217.00 price target on Concho Resources (NYSE:CXO) in a research report released on Tuesday morning. The firm currently has a buy rating on the oil and natural gas company’s stock.

Several other research firms have also weighed in on CXO. Credit Suisse Group set a $159.00 price objective on shares of Concho Resources and gave the company a hold rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Jefferies Group set a $185.00 price objective on shares of Concho Resources and gave the company a buy rating in a research report on Tuesday, January 30th. Stifel Nicolaus set a $195.00 price objective on shares of Concho Resources and gave the company a buy rating in a research report on Monday, January 29th. Morgan Stanley raised their price objective on shares of Concho Resources from $155.00 to $183.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. Finally, Deutsche Bank assumed coverage on shares of Concho Resources in a research report on Thursday, February 1st. They set a hold rating and a $171.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $171.62.

NYSE:CXO opened at $154.59 on Tuesday. Concho Resources has a twelve month low of $106.73 and a twelve month high of $162.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.51 and a quick ratio of 0.50. The stock has a market cap of $23,123.41, a PE ratio of 73.97 and a beta of 0.97.

Concho Resources (NYSE:CXO) last posted its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.20. Concho Resources had a net margin of 36.97% and a return on equity of 3.61%. The company had revenue of $780.00 million during the quarter, compared to analyst estimates of $720.51 million. During the same quarter last year, the firm posted $0.20 EPS. The business’s revenue for the quarter was up 48.6% on a year-over-year basis. equities research analysts expect that Concho Resources will post 3.72 earnings per share for the current year.

In related news, VP E Joseph Wright sold 83,759 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $148.27, for a total transaction of $12,418,946.93. Following the completion of the sale, the vice president now directly owns 159,268 shares in the company, valued at $23,614,666.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Timothy A. Leach sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $148.14, for a total transaction of $5,925,600.00. Following the sale, the chairman now owns 737,837 shares of the company’s stock, valued at $109,303,173.18. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB boosted its holdings in shares of Concho Resources by 15.8% during the fourth quarter. Xact Kapitalforvaltning AB now owns 14,847 shares of the oil and natural gas company’s stock worth $2,230,000 after purchasing an additional 2,029 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Concho Resources by 36.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 25,927 shares of the oil and natural gas company’s stock worth $3,894,000 after purchasing an additional 6,963 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Concho Resources by 37.1% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 140,705 shares of the oil and natural gas company’s stock worth $21,137,000 after purchasing an additional 38,092 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in shares of Concho Resources by 60.7% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,411 shares of the oil and natural gas company’s stock worth $1,113,000 after purchasing an additional 2,800 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Concho Resources by 62.0% during the fourth quarter. Segall Bryant & Hamill LLC now owns 255,762 shares of the oil and natural gas company’s stock worth $38,421,000 after purchasing an additional 97,865 shares during the period. Institutional investors and hedge funds own 95.78% 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.

Analyst Recommendations for Concho Resources (NYSE:CXO)

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