Concho Resources Upgraded by Howard Weil to Focus Stock (CXO)
Concho Resources (NYSE:CXO) was upgraded by equities research analysts at Howard Weil from an “outperform” rating to a “focus stock” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Concho Resources in a research note to investors on Monday, December 9th. They now have a $119.00 price target on the stock, down previously from $130.00. Separately, analysts at Imperial Capital raised their price target on shares of Concho Resources from $111.00 to $116.00 in a research note to investors on Tuesday, November 26th. They now have an “outperform” rating on the stock. Finally, analysts at TheStreet downgraded shares of Concho Resources from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, November 20th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Concho Resources has a consensus rating of “Buy” and a consensus price target of $123.75.
Concho Resources (NYSE:CXO) traded up 1.20% during mid-day trading on Wednesday, hitting $102.315. 235,080 shares of the company’s stock traded hands. Concho Resources has a 1-year low of $78.58 and a 1-year high of $122.81. The stock’s 50-day moving average is $103.6 and its 200-day moving average is $101.0. The company has a market cap of $10.623 billion and a price-to-earnings ratio of 47.96.
Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.05 by $0.01. The company had revenue of $652.92 billion for the quarter, compared to the consensus estimate of $597.77 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. Analysts expect that Concho Resources will post $3.67 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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