A number of firms have modified their ratings and price targets on shares of Concho Resources (NYSE: CXO) recently:

  • 8/16/2018 – Concho Resources was given a new $155.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 8/14/2018 – Concho Resources was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
  • 8/7/2018 – Concho Resources had its price target lowered by analysts at Jefferies Financial Group Inc from $210.00 to $201.00. They now have a “buy” rating on the stock.
  • 8/3/2018 – Concho Resources was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/24/2018 – Concho Resources was upgraded by analysts at KLR Group from a “hold” rating to a “buy” rating. They now have a $178.00 price target on the stock, up previously from $166.00.
  • 7/23/2018 – Concho Resources had its “buy” rating reaffirmed by analysts at Williams Capital. They now have a $189.00 price target on the stock.
  • 7/20/2018 – Concho Resources had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $220.00 price target on the stock.
  • 7/18/2018 – Concho Resources was upgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “buy” rating.
  • 7/16/2018 – Concho Resources was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/13/2018 – Concho Resources had its “buy” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $200.00 price target on the stock.
  • 7/11/2018 – Concho Resources is now covered by analysts at Susquehanna Bancshares Inc. They set a “positive” rating and a $175.00 price target on the stock.
  • 7/5/2018 – Concho Resources had its price target lowered by analysts at SunTrust Banks, Inc. to $155.00. They now have a “hold” rating on the stock.
  • 7/5/2018 – Concho Resources is now covered by analysts at TD Securities. They set a “hold” rating and a $150.00 price target on the stock.
  • 7/3/2018 – Concho Resources was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Concho Resources' core operations are focused in the prolific Permian basin, providing this large-cap E&P with an enviable acreage of low-risk top-tier assets and a multiyear drilling inventory. With the recently announced $9.5 billion RSP Permian acquisition, the company will be able to further bolster its scale and leadership position in the region. And while Concho's track record of production growth remains strong, it has been achieved at a competitive cost structure. Despite all the above-mentioned positives, service cost inflation and lack of geographical diversification keep us on the sidelines. Thus, we see limited upside from current levels and take a cautious stance on CXO shares.”
  • 6/25/2018 – Concho Resources was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $143.00 price target on the stock. According to Zacks, “Concho Resources' core operations are focused in the prolific Permian basin, providing this large-cap E&P with an enviable acreage of low-risk top-tier assets and a multiyear drilling inventory. With the recently announced $9.5 billion RSP Permian acquisition, the company will be able to further bolster its scale and leadership position in the region. And while Concho's track record of production growth remains strong, it has been achieved at a competitive cost structure. Concho Resources also maintains a robust balance sheet, while following a prudent investment approach. Consequently, we think Concho Resources offers substantial upside potential from the current price levels and view it as an attractive investment.”
  • 6/18/2018 – Concho Resources is now covered by analysts at Williams Capital. They set a “buy” rating and a $178.00 price target on the stock.

Shares of NYSE:CXO traded up $1.47 on Friday, hitting $135.05. 2,251,400 shares of the company’s stock were exchanged, compared to its average volume of 2,042,453. Concho Resources Inc has a 12 month low of $106.73 and a 12 month high of $163.11. The company has a market cap of $27.58 billion, a price-to-earnings ratio of 64.62 and a beta of 0.95. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.24.

Concho Resources (NYSE:CXO) last released its earnings results on Wednesday, August 1st. The oil and natural gas company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.32. Concho Resources had a return on equity of 5.37% and a net margin of 34.13%. The business had revenue of $945.00 million during the quarter, compared to the consensus estimate of $906.82 million. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 66.7% compared to the same quarter last year. equities research analysts predict that Concho Resources Inc will post 4.38 EPS for the current fiscal year.

In other news, Director Mark B. Puckett acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The stock was purchased at an average cost of $134.39 per share, for a total transaction of $268,780.00. Following the completion of the acquisition, the director now directly owns 28,535 shares of the company’s stock, valued at approximately $3,834,818.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Concho Resources in the second quarter valued at about $166,000. First Allied Advisory Services Inc. bought a new stake in shares of Concho Resources in the first quarter valued at about $202,000. KC Investment Advisors LLC bought a new stake in shares of Concho Resources in the second quarter valued at about $204,000. Commerce Bank bought a new stake in shares of Concho Resources in the first quarter valued at about $205,000. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of Concho Resources in the second quarter valued at about $232,000. Hedge funds and other institutional investors own 97.50% of the company’s stock.

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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