Concho Resources (NYSE:CXO)‘s stock had its “buy” rating reissued by analysts at BMO Capital Markets in a research report issued to clients and investors on Sunday. They currently have a $200.00 price objective on the oil and natural gas company’s stock. BMO Capital Markets’ target price indicates a potential upside of 25.72% from the stock’s previous close.

A number of other brokerages have also commented on CXO. Piper Jaffray Companies reissued a “buy” rating and set a $170.00 price target on shares of Concho Resources in a research note on Tuesday, January 9th. Bank of America raised Concho Resources from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Thursday, January 4th. Zacks Investment Research lowered Concho Resources from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. KLR Group lowered Concho Resources to a “hold” rating and set a $154.00 price objective for the company. in a research note on Wednesday, December 27th. Finally, Jefferies Group set a $173.00 price objective on Concho Resources and gave the company a “buy” rating in a research note on Wednesday, December 20th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $157.42.

Concho Resources (NYSE:CXO) opened at $159.09 on Friday. Concho Resources has a one year low of $106.73 and a one year high of $159.52. The company has a market capitalization of $23,656.05, a P/E ratio of 42.31 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66.

Concho Resources (NYSE:CXO) last announced its quarterly earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.19. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The company had revenue of $627.00 million during the quarter, compared to analyst estimates of $614.12 million. During the same period in the prior year, the company earned $0.32 earnings per share. The firm’s revenue was up 45.8% on a year-over-year basis. equities analysts anticipate that Concho Resources will post 1.86 EPS for the current year.

In other news, Director Ray M. Poage sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $150.87, for a total value of $603,480.00. Following the sale, the director now directly owns 24,799 shares in the company, valued at $3,741,425.13. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.99% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CXO. Oppenheimer Asset Management Inc. raised its holdings in shares of Concho Resources by 37.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,854 shares of the oil and natural gas company’s stock worth $226,000 after buying an additional 501 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Concho Resources in the second quarter worth approximately $923,000. Private Advisor Group LLC raised its holdings in shares of Concho Resources by 2.5% in the second quarter. Private Advisor Group LLC now owns 2,501 shares of the oil and natural gas company’s stock worth $304,000 after buying an additional 60 shares during the period. Franklin Resources Inc. raised its holdings in shares of Concho Resources by 9.0% in the second quarter. Franklin Resources Inc. now owns 151,711 shares of the oil and natural gas company’s stock worth $18,438,000 after buying an additional 12,491 shares during the period. Finally, Aberdeen Asset Management PLC UK raised its holdings in shares of Concho Resources by 2.6% in the second quarter. Aberdeen Asset Management PLC UK now owns 33,688 shares of the oil and natural gas company’s stock worth $4,094,000 after buying an additional 845 shares during the period. Hedge funds and other institutional investors own 94.47% of the company’s stock.

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Concho Resources Company Profile

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.

Analyst Recommendations for Concho Resources (NYSE:CXO)

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