Concho Resources Inc. Hits New 52-Week High at $118.69 (CXO)
Shares of Concho Resources (NYSE:CXO) hit a new 52-week high during mid-day trading on Thursday, Analyst Ratings Network reports. The stock traded as high as $118.69 and last traded at $117.05, with a volume of 1,135,907 shares trading hands. The stock had previously closed at $117.03.
CXO has been the subject of a number of recent research reports. Analysts at Iberia Capital upgraded shares of Concho Resources from a “sector perform” rating to an “outperform” rating in a research note to investors on Thursday. Separately, analysts at Raymond James cut their price target on shares of Concho Resources from $129.00 to $128.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Finally, 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, October 10th. They now have an “outperform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $111.15.
Concho Resources has a 1-year low of $76.81 and a 1-year high of $117.91. The stock has a 50-day moving average of $105.9 and a 200-day moving average of $92.17. The company has a market cap of $12.364 billion and a P/E ratio of 62.28.
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 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 $3.75 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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