Concho Resources PT Raised to $58.00 (CXO)
Investment analysts at SunTrust raised their target price on shares of Concho Resources (NYSE:CXO) from $52.00 to $58.00 in a note issued to investors on Friday, ARN reports. The firm currently has a “neutral” rating on the stock. SunTrust’s price objective suggests a potential downside of 49.67% from the company’s current price.
CXO has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of Concho Resources (NYSE:CXO) in a research note to investors on Wednesday. They now have a $100.00 price target on the stock. Separately, analysts at Societe Generale raised their price target on shares of Concho Resources (NYSE:CXO) from $110.00 to $125.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, 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. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Concho Resources currently has an average rating of “Buy” and an average target price of $110.84.
Concho Resources (NYSE:CXO) traded up 1.10% on Friday, hitting $115.24. The stock had a trading volume of 1,777,387 shares. Concho Resources has a 1-year low of $76.81 and a 1-year high of $115.84. The stock’s 50-day moving average is $101.5 and its 200-day moving average is $91.18. The company has a market cap of $11.960 billion and a price-to-earnings ratio of 60.67.
Concho Resources (NYSE:CXO) last announced its earnings results on Wednesday, August 7th. The company reported $0.98 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.78 earnings per share. Concho Resources’s revenue was up 39.6% compared to the same quarter last year. 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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