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Research analysts at Ladenburg Thalmann lifted their price objective on shares of Concho Resources (NYSE:CXO) from $135.00 to $150.00 in a report released on Tuesday, AnalystRatings.Net reports. The firm currently has a “buy” rating on the stock. Ladenburg Thalmann’s price target would indicate a potential upside of 26.53% from the company’s current price.

Shares of Concho Resources (NYSE:CXO) traded down 1.68% on Tuesday, hitting $116.56. The stock had a trading volume of 144,782 shares. Concho Resources has a 52-week low of $78.58 and a 52-week high of $122.81. The stock has a 50-day moving average of $103.4 and a 200-day moving average of $104.6. The company has a market cap of $12.250 billion and a price-to-earnings ratio of 49.60.

Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by $0.16. The company had revenue of $632.09 million for the quarter, compared to the consensus estimate of $628.49 million. Analysts expect that Concho Resources will post $4.39 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on CXO. Analysts at Imperial Capital raised their price target on shares of Concho Resources from $118.00 to $130.00 in a research note on Tuesday. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Concho Resources in a research note on Thursday, February 20th. They now have a $135.00 price target on the stock, up previously from $119.00. Finally, analysts at UBS AG raised their price target on shares of Concho Resources from $112.00 to $123.00 in a research note on Thursday, February 20th. They now have a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Concho Resources presently has an average rating of “Buy” and an average price target of $132.06.

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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