SunTrust Increases Concho Resources Price Target to $175.00 (CXO)
Research analysts at SunTrust boosted their price objective on shares of Concho Resources (NYSE:CXO) from $159.00 to $175.00 in a report released on Friday. SunTrust’s target price would suggest a potential upside of 18.44% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Howard Weil raised their price target on shares of Concho Resources from $157.00 to $167.00 in a research note on Thursday. They now have a “focus stock” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Concho Resources from $148.00 to $170.00 in a research note on Wednesday, July 2nd. They now have a “top pick” rating on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Concho Resources in a research note on Tuesday, July 1st. They set a “buy” rating and a $163.00 price target on the stock. Four 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 company. Concho Resources presently has an average rating of “Buy” and an average target price of $147.72.
Concho Resources (NYSE:CXO) traded down 1.16% on Friday, hitting $146.045. The stock had a trading volume of 717,960 shares. Concho Resources has a one year low of $85.39 and a one year high of $148.61. The stock’s 50-day moving average is $138.1 and its 200-day moving average is $122.0. The company has a market cap of $15.192 billion and a price-to-earnings ratio of 49.80.
Concho Resources (NYSE:CXO) last posted its quarterly earnings results 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 $4.40 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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