Deutsche Bank Reiterates Buy Rating for Concho Resources (CXO)
Concho Resources (NYSE:CXO)‘s stock had its “buy” rating reiterated by equities researchers at Deutsche Bank in a research report issued on Tuesday, AnalystRatingsNetwork reports. They currently have a $140.00 price target on the stock, up from their previous price target of $137.00. Deutsche Bank’s price target would suggest a potential upside of 7.74% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at UBS AG reiterated a “neutral” rating on shares of Concho Resources in a research note on Tuesday. They now have a $135.00 price target on the stock, up previously from $125.00. Separately, analysts at Wunderlich downgraded shares of Concho Resources from a “buy” rating to a “hold” rating in a research note on Tuesday. They now have a $137.00 price target on the stock, down previously from $147.00. Finally, analysts at Societe Generale downgraded shares of Concho Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. They now have a $137.00 price target on the stock, up previously from $125.00. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $136.44.
Shares of Concho Resources (NYSE:CXO) traded up 0.82% during mid-day trading on Tuesday, hitting $131.00. 3,025,798 shares of the company’s stock traded hands. Concho Resources has a 52-week low of $79.10 and a 52-week high of $135.35. The stock’s 50-day moving average is $127.9 and its 200-day moving average is $112.8. The company has a market cap of $13.608 billion and a price-to-earnings ratio of 54.39.
Concho Resources (NYSE:CXO) last released its earnings data on Monday, May 12th. The company reported $1.01 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.97 by $0.04. The company had revenue of $660.96 million for the quarter, compared to the consensus estimate of $629.78 million. During the same quarter last year, the company posted $0.58 earnings per share. Concho Resources’s revenue was up 40.0% compared to the same quarter last year. Analysts expect that Concho Resources will post $4.54 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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