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Concho Resources (NYSE:CXO)‘s stock had its “outperform” rating reaffirmed by stock analysts at Raymond James in a report issued on Friday. They currently have a $172.00 target price on the stock, down from their previous target price of $177.00. Raymond James’ price target would suggest a potential upside of 29.00% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. 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. Separately, analysts at Barclays raised their price target on shares of Concho Resources from $153.00 to $173.00 in a research note on Wednesday, July 23rd. 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 equities research 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 company’s stock. The stock has an average rating of “Buy” and an average target price of $150.00.

Shares of 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 has a 50-day moving average of $142.5 and a 200-day moving average of $127.6. The company has a market cap of $14.265 billion and a P/E ratio of 58.26.

Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.04 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 25.2% on a year-over-year basis. Analysts expect that Concho Resources will post $4.30 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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