Concho Resources Price Target Increased to $138.00 by Analysts at Barclays (CXO)
Equities researchers at Barclays boosted their price target on shares of Concho Resources (NYSE:CXO) from $136.00 to $138.00 in a research report issued on Monday, AR Network reports. The firm currently has an “overweight” rating on the stock. Barclays’ price target suggests a potential upside of 43.14% from the stock’s previous close.
Shares of Concho Resources (NYSE:CXO) traded down 1.41% on Monday, hitting $96.41. The stock had a trading volume of 1,168,113 shares. Concho Resources has a 52 week low of $78.58 and a 52 week high of $122.81. The stock’s 50-day moving average is $101.1 and its 200-day moving average is $102.6. The company has a market cap of $10.010 billion and a P/E ratio of 46.39.
Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.06 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.96 earnings per share. Analysts expect that Concho Resources will post $3.64 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Howard Weil upgraded shares of Concho Resources from an “outperform” rating to a “focus stock” rating in a research note to investors on Wednesday, January 8th. They now have a $137.00 price target on the stock. Separately, 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. Finally, 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. Five 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. The stock presently has a consensus rating of “Buy” and an average price target of $124.65.
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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