Concho Resources Price Target Increased to $170.00 by Analysts at RBC Capital (CXO)
Analysts at RBC Capital lifted their target price on shares of Concho Resources (NYSE:CXO) from $148.00 to $170.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “top pick” rating on the stock. RBC Capital’s target price would suggest a potential upside of 19.11% from the company’s current price.
Shares of Concho Resources (NYSE:CXO) opened at 142.72 on Wednesday. Concho Resources has a 52 week low of $84.53 and a 52 week high of $145.99. The stock’s 50-day moving average is $135.7 and its 200-day moving average is $120.4. The company has a market cap of $14.846 billion and a price-to-earnings ratio of 48.70.
Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 40.0% on a year-over-year basis. On average, analysts predict that Concho Resources will post $4.40 earnings per share for the current fiscal year.
CXO has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity initiated coverage on shares of Concho Resources in a research note on Tuesday. They set a “buy” rating and a $163.00 price target on the stock. Separately, analysts at SunTrust raised their price target on shares of Concho Resources from $151.00 to $159.00 in a research note on Thursday, June 19th. Finally, 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. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Concho Resources currently has a consensus rating of “Buy” and a consensus price target of $145.17.
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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