Concho Resources PT Raised to $170.00 (CXO)
Research analysts at Stifel Nicolaus boosted their price objective on shares of Concho Resources (NYSE:CXO) from $115.00 to $170.00 in a report released on Tuesday. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 19.68% from the company’s current price.
In other Concho Resources news, Director John P. Surma bought 2,000 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was purchased at an average cost of $130.00 per share, for a total transaction of $260,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Concho Resources (NYSE:CXO) opened at 142.04 on Tuesday. Concho Resources has a 52-week low of $94.51 and a 52-week high of $148.61. The stock’s 50-day moving average is $138.7 and its 200-day moving average is $131.2. The company has a market cap of $15.844 billion and a price-to-earnings ratio of 63.10.
Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 25.2% on a year-over-year basis. On average, analysts predict that Concho Resources will post $4.27 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of Concho Resources from $174.00 to $179.00 in a research note on Wednesday, August 27th. Finally, 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. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Concho Resources presently has an average rating of “Buy” and an average price target of $156.11.
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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