Concho Resources Stock Rating Lowered by Stephens (CXO)
Concho Resources (NYSE:CXO) was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
Shares of Concho Resources (NYSE:CXO) opened at 115.24 on Monday. Concho Resources has a one year low of $76.81 and a one year high of $117.91. The stock’s 50-day moving average is $102.1 and its 200-day moving average is $91.31. The company has a market cap of $11.960 billion and a price-to-earnings ratio of 61.33.
Concho Resources (NYSE:CXO) last announced its 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. Analysts expect that Concho Resources will post $3.78 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at SunTrust raised their price target on shares of Concho Resources from $52.00 to $58.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Canaccord Genuity reiterated a “hold” rating on shares of Concho Resources in a research note to investors on Wednesday, October 2nd. They now have a $100.00 price target on the stock. Finally, analysts at Societe Generale raised their price target on shares of Concho Resources from $110.00 to $125.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $110.84.
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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