Concho Resources Inc. Hits New 52-Week High at $102.76 (CXO)
Shares of Concho Resources (NYSE:CXO) hit a new 52-week high during trading hours on Wednesday, Analyst Ratings Network reports. The company traded as high as $102.76 and last traded at $102.68, with a volume of 325,740 shares trading hands. The stock had previously closed at $100.80.
Several analysts have recently commented on the stock. Analysts at Canaccord Genuity initiated coverage on shares of Concho Resources (NYSE:CXO) in a research note to investors on Tuesday. They set a “hold” rating and a $100.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Imperial Capital raised their price target on shares of Concho Resources (NYSE:CXO) from $100.00 to $111.00 in a research note to investors on Friday, September 6th. They now have an “outperform” rating on the stock. Finally, analysts at SunTrust raised their price target on shares of Concho Resources (NYSE:CXO) from $83.00 to $85.00 in a research note to investors on Thursday, August 22nd. They now have a “neutral” rating on the stock.
Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $111.21.
Concho Resources has a 1-year low of $76.81 and a 1-year high of $102.26. The stock’s 50-day moving average is $94.54 and its 200-day moving average is $89.2. The company has a market cap of $10.705 billion and a P/E ratio of 53.65.
Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by $0.02. The company had revenue of $562.79 million for the quarter, compared to the consensus estimate of $559.40 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 39.6% on a year-over-year basis. On average, analysts predict that Concho Resources will post $3.76 earnings per share for the current fiscal year.
Concho Resources Inc(NYSE:CXO) is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties.
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