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Concho Resources (NYSE:CXO) has been given a consensus rating of “Buy” by the twenty brokerages that are currently covering the stock, AnalystRatings.Net reports. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $155.65.

Several analysts have recently commented on the stock. Analysts at Canaccord Genuity initiated coverage on shares of Concho Resources in a research note on Tuesday, August 12th. They set a “buy” rating and a $185.00 price target on the stock. Separately, analysts at KLR Group upgraded shares of Concho Resources from an “accumulate” rating to a “buy” rating in a research note on Tuesday, August 12th. They now have a $185.00 price target on the stock, up previously from $9.00. Finally, analysts at Stephens upgraded shares of Concho Resources from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 11th. They now have a $165.00 price target on the stock, up previously from $134.00.

Concho Resources (NYSE:CXO) opened at 130.18 on Tuesday. Concho Resources has a 1-year low of $91.75 and a 1-year high of $148.61. The stock has a 50-day moving average of $140.8 and a 200-day moving average of $129.5. The company has a market cap of $14.521 billion and a price-to-earnings ratio of 57.43.

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 $4.29 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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