Stock analysts at Credit Suisse Group assumed coverage on shares of Concho Resources (NYSE:CXO) in a research report issued to clients and investors on Monday, December 11th, MarketBeat.com reports. The firm set a “neutral” rating and a $136.00 price target on the oil and natural gas company’s stock. Credit Suisse Group’s price objective would suggest a potential downside of 10.39% from the company’s current price.
Several other equities research analysts have also issued reports on CXO. Royal Bank of Canada reaffirmed a “buy” rating and set a $158.00 target price on shares of Concho Resources in a research report on Friday, September 29th. Piper Jaffray Companies decreased their target price on Concho Resources from $167.00 to $142.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. Stifel Nicolaus set a $185.00 price objective on Concho Resources and gave the stock a “buy” rating in a report on Thursday, October 5th. SunTrust Banks set a $145.00 price objective on Concho Resources and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, Barclays lifted their price objective on Concho Resources from $144.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, November 20th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $153.47.
Shares of Concho Resources (CXO) traded up $1.94 during trading on Monday, hitting $151.77. The stock had a trading volume of 1,165,331 shares, compared to its average volume of 995,832. Concho Resources has a 1 year low of $106.73 and a 1 year high of $152.67. The stock has a market cap of $22,570.00, a price-to-earnings ratio of 39.94 and a beta of 1.08. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32.
Hedge funds and other institutional investors have recently modified their holdings of the business. Israel Discount Bank of New York boosted its stake in Concho Resources by 32.0% in the 2nd quarter. Israel Discount Bank of New York now owns 825 shares of the oil and natural gas company’s stock worth $100,000 after purchasing an additional 200 shares during the period. Sun Life Financial INC boosted its stake in Concho Resources by 10,850.0% in the 2nd quarter. Sun Life Financial INC now owns 1,095 shares of the oil and natural gas company’s stock worth $133,000 after purchasing an additional 1,085 shares during the period. Twin Tree Management LP bought a new position in Concho Resources in the 2nd quarter worth about $137,000. C M Bidwell & Associates Ltd. boosted its stake in Concho Resources by 1.4% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock worth $182,000 after purchasing an additional 20 shares during the period. Finally, Commonwealth Equity Services Inc bought a new position in Concho Resources in the 3rd quarter worth about $206,000. Institutional investors and hedge funds own 94.47% of the company’s stock.
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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.
