Raymond James Lowers Concho Resources Price Target to $128.00 (CXO)
Research analysts at Raymond James lowered their price target on shares of Concho Resources (NYSE:CXO) from $129.00 to $128.00 in a report released on Monday, American Banking & Market News reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price target suggests a potential upside of 15.93% from the stock’s previous close.
Concho Resources (NYSE:CXO) traded up 0.11% on Monday, hitting $110.41. The stock had a trading volume of 813,660 shares. Concho Resources has a 52 week low of $76.81 and a 52 week high of $117.91. The stock’s 50-day moving average is $104.5 and its 200-day moving average is $91.85. The company has a market cap of $11.459 billion and a price-to-earnings ratio of 58.70.
Concho Resources (NYSE:CXO) last posted its quarterly 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 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. On average, analysts predict that Concho Resources will post $3.76 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company raised their price target on shares of Concho Resources from $100.00 to $120.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Wunderlich raised their price target on shares of Concho Resources from $119.00 to $128.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, 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, October 7th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $111.15.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.