Concho Resources Inc. (CXO) Given a $140.00 Price Target by Jefferies Group LLC Analysts
Concho Resources Inc. (NYSE:CXO) has been given a $140.00 target price by stock analysts at Jefferies Group LLC in a research report issued on Wednesday. The firm presently has a “hold” rating on the oil and natural gas company’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 9.68% from the company’s current price.
Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada set a $178.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research report on Saturday, June 17th. Credit Suisse Group set a $158.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research report on Saturday, May 6th. BidaskClub cut shares of Concho Resources from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Scotiabank set a $125.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Zacks Investment Research lowered shares of Concho Resources from a “hold” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $154.81.
Shares of Concho Resources (NYSE CXO) traded up 2.62% during mid-day trading on Wednesday, hitting $127.64. The stock had a trading volume of 956,503 shares. Concho Resources has a 12-month low of $112.73 and a 12-month high of $147.55. The stock’s 50-day moving average price is $121.38 and its 200-day moving average price is $129.87. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of 87.85 and a beta of 1.08.
Concho Resources (NYSE:CXO) last released its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $0.49 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.18. Concho Resources had a net margin of 10.60% and a return on equity of 2.44%. The business had revenue of $612 million during the quarter, compared to analysts’ expectations of $607.71 million. During the same quarter in the prior year, the company earned ($0.05) EPS. The firm’s quarterly revenue was up 115.5% on a year-over-year basis. On average, equities analysts anticipate that Concho Resources will post $1.59 EPS for the current fiscal year.
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In other Concho Resources news, Director Lawrence J. Nagy sold 120,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $0.27, for a total value of $32,400.00. 1.20% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Concho Resources by 4.7% in the first quarter. Vanguard Group Inc. now owns 14,684,981 shares of the oil and natural gas company’s stock valued at $1,884,670,000 after buying an additional 653,569 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Concho Resources by 20.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 13,094 shares of the oil and natural gas company’s stock valued at $1,728,000 after buying an additional 2,255 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Concho Resources during the first quarter valued at approximately $693,000. TD Asset Management Inc. boosted its position in shares of Concho Resources by 34.8% in the first quarter. TD Asset Management Inc. now owns 91,606 shares of the oil and natural gas company’s stock valued at $11,757,000 after buying an additional 23,660 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in shares of Concho Resources during the first quarter valued at approximately $9,804,000. 93.05% of the stock is currently owned by institutional investors.
About Concho Resources
Concho Resources Inc is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.
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