Concho Resources Price Target Cut to $172.00 by Analysts at Barclays (CXO)
Barclays decreased their price target on shares of Concho Resources (NYSE:CXO) from $173.00 to $172.00 in a research note issued on Friday. Barclays’ price objective would suggest a potential upside of 29.00% from the stock’s previous close.
A number of other firms have also recently commented on CXO. Analysts at Raymond James reiterated an “outperform” rating on shares of Concho Resources in a research note on Friday. They now have a $172.00 price target on the stock, down previously from $177.00. Separately, analysts at Howard Weil downgraded shares of Concho Resources from a “focus stock” rating to a “sector outperform” rating in a research note on Friday. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Concho Resources in a research note on Friday, July 18th. They now have a $162.00 price target on the stock, up previously from $140.00. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Concho Resources presently has a consensus rating of “Buy” and an average price target of $150.00.
Concho Resources (NYSE:CXO) opened at 133.33 on Friday. Concho Resources has a one year low of $91.75 and a one year high of $148.61. The stock’s 50-day moving average is $142.5 and its 200-day moving average is $127.6. The company has a market cap of $15.063 billion and a P/E ratio of 58.26.
Concho Resources (NYSE:CXO) last released its earnings data on Wednesday, August 6th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. The company had revenue of $704.70 million for the quarter, compared to the consensus estimate of $676.71 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. Analysts expect that Concho Resources will post $4.32 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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