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Shares of Concho Resources (NYSE:CXO) hit a new 52-week high on Friday , Analyst Ratings.Net reports. The company traded as high as $135.94 and last traded at $135.85, with a volume of 376,426 shares. The stock had previously closed at $133.36.

CXO has been the subject of a number of recent research reports. Analysts at Barclays raised their price target on shares of Concho Resources from $140.00 to $153.00 in a research note on Friday, May 23rd. They now have an “overweight” rating on the stock. Separately, analysts at Citigroup Inc. raised their price target on shares of Concho Resources from $130.00 to $160.00 in a research note on Wednesday, May 14th. They now have a “buy” rating on the stock. Finally, analysts at KLR Group raised their price target on shares of Concho Resources from $6.00 to $156.00 in a research note on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $140.11.

The stock’s 50-day moving average is $131.7 and its 200-day moving average is $115.5. The company has a market cap of $14.025 billion and a P/E ratio of 44.95.

Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.01 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 40.0% on a year-over-year basis. On average, analysts predict that Concho Resources will post $4.38 earnings per share 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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