Concho Resources Price Target Increased to $125.00 by Analysts at BMO Capital Markets (CXO)
BMO Capital Markets raised their price target on shares of Concho Resources (NYSE:CXO) from $110.00 to $125.00 in a research note issued on Friday, American Banking and Market News reports. BMO Capital Markets’ target price suggests a potential upside of 15.59% from the company’s current price.
A number of other firms have also recently commented on CXO. Analysts at Barclays raised their price target on shares of Concho Resources from $136.00 to $138.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Separately, 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. Finally, 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. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $125.82.
Concho Resources (NYSE:CXO) traded up 3.35% on Friday, hitting $108.14. 2,582,072 shares of the company’s stock traded hands. Concho Resources has a one year low of $78.58 and a one year high of $122.81. The stock has a 50-day moving average of $101.1 and a 200-day moving average of $102.7. The company has a market cap of $11.228 billion and a price-to-earnings ratio of 49.63.
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.