Concho Resources PT Raised to $128.00 at Wunderlich (CXO)
Research analysts at Wunderlich upped their price target on shares of Concho Resources (NYSE:CXO) from $119.00 to $128.00 in a report released on Thursday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Wunderlich’s price objective would suggest a potential upside of 16.72% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stephens downgraded shares of Concho Resources from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. Separately, 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, October 4th. They now have a “neutral” rating on the stock. Finally, 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. Nine investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $111.10.
Concho Resources (NYSE:CXO) traded up 2.06% during mid-day trading on Thursday, hitting $109.66. 975,133 shares of the company’s stock traded hands. Concho Resources has a 52-week low of $76.81 and a 52-week high of $117.91. The stock has a 50-day moving average of $103.5 and a 200-day moving average of $91.63. The company has a market cap of $11.381 billion and a price-to-earnings ratio of 57.18.
Concho Resources (NYSE:CXO) last announced its earnings results 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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