Concho Resources Given New $125.00 Price Target at Societe Generale (CXO)
Equities research analysts at Societe Generale lifted their price target on shares of Concho Resources (NYSE:CXO) from $110.00 to $125.00 in a research note issued to investors on Wednesday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Societe Generale’s price target suggests a potential upside of 9.61% from the company’s current price.
A number of other analysts have also recently weighed in on CXO. Analysts at Deutsche Bank raised their price target on shares of Concho Resources (NYSE:CXO) from $120.00 to $125.00 in a research note to investors on Monday, September 23rd. They now have a “buy” rating on the stock. Separately, analysts at Canaccord Genuity initiated coverage on shares of Concho Resources (NYSE:CXO) in a research note to investors on Tuesday, September 10th. They set a “hold” rating and a $100.00 price target on the stock. They noted that the move was a valuation call. Finally, 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. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $112.26.
Shares of Concho Resources (NYSE:CXO) traded up 0.34% on Wednesday, hitting $114.04. 1,465,994 shares of the company’s stock traded hands. Concho Resources has a one year low of $76.81 and a one year high of $114.32. The stock’s 50-day moving average is $100.4 and its 200-day moving average is $90.85. The company has a market cap of $11.836 billion and a price-to-earnings ratio of 60.48.
Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.98 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 39.6% on a year-over-year basis. Analysts expect that Concho Resources will post $3.78 EPS 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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