Concho Resources (NYSE:CXO) received a $167.00 price target from analysts at Royal Bank of Canada in a report issued on Wednesday. The firm currently has a “buy” rating on the oil and natural gas company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 13.75% from the company’s current price.
A number of other research analysts have also recently commented on CXO. Jefferies Group restated a “hold” rating and issued a $109.00 target price (down previously from $130.00) on shares of Concho Resources in a research note on Tuesday, August 29th. ValuEngine upgraded Concho Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Piper Jaffray Companies lowered their target price on Concho Resources from $167.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, September 18th. Stifel Nicolaus set a $185.00 target price on Concho Resources and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, Barclays raised their target price on Concho Resources from $124.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Concho Resources has an average rating of “Buy” and a consensus target price of $153.47.
Shares of Concho Resources (NYSE:CXO) opened at $146.81 on Wednesday. Concho Resources has a fifty-two week low of $106.73 and a fifty-two week high of $147.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $20,863.54, a P/E ratio of 84.52 and a beta of 1.09.
Several institutional investors have recently bought and sold shares of the business. AXA increased its holdings in shares of Concho Resources by 1.6% in the 3rd quarter. AXA now owns 401,060 shares of the oil and natural gas company’s stock worth $52,828,000 after purchasing an additional 6,378 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Concho Resources by 5.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 78,905 shares of the oil and natural gas company’s stock worth $10,393,000 after purchasing an additional 4,091 shares in the last quarter. Davis Selected Advisers increased its holdings in shares of Concho Resources by 150.1% in the 3rd quarter. Davis Selected Advisers now owns 136,047 shares of the oil and natural gas company’s stock worth $17,923,000 after purchasing an additional 81,649 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in shares of Concho Resources in the 3rd quarter worth $584,000. Finally, Sterling Capital Management LLC increased its holdings in shares of Concho Resources by 2.1% in the 3rd quarter. Sterling Capital Management LLC now owns 43,119 shares of the oil and natural gas company’s stock worth $5,680,000 after purchasing an additional 900 shares in the last quarter. 94.47% of the stock is owned by institutional investors and hedge funds.
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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.
