Concho Resources Given Average Recommendation of “Buy” by Brokerages (NYSE:CXO)
Concho Resources (NYSE:CXO) has been given a consensus rating of “Buy” by the twenty-two ratings firms that are presently covering the company, American Banking News reports. Four research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $132.06.
Concho Resources (NYSE:CXO) traded up 0.10% on Wednesday, hitting $119.12. 760,544 shares of the company’s stock traded hands. 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 $103. and its 200-day moving average is $104.8. The company has a market cap of $12.519 billion and a price-to-earnings ratio of 49.79.
Concho Resources (NYSE:CXO) last announced its 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 $4.41 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Ladenburg Thalmann raised their price target on shares of Concho Resources from $135.00 to $150.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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.
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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