Concho Resources (NYSE:CXO) received a $195.00 price objective from research analysts at Stifel Nicolaus in a research note issued to investors on Monday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 23.92% from the stock’s previous close.
CXO has been the subject of several other reports. Jefferies Group set a $185.00 target price on Concho Resources and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley raised their target price on Concho Resources from $155.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Credit Suisse Group set a $159.00 target price on Concho Resources and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. KeyCorp set a $165.00 target price on Concho Resources and gave the stock a “buy” rating in a research report on Sunday, January 21st. Finally, Cowen set a $165.00 target price on Concho Resources and gave the stock a “hold” rating in a research report on Thursday, January 18th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Concho Resources currently has a consensus rating of “Buy” and an average target price of $164.11.
Shares of Concho Resources (NYSE:CXO) traded down $3.92 during trading on Monday, hitting $157.36. 1,610,000 shares of the stock traded hands, compared to its average volume of 1,040,000. The firm has a market capitalization of $23,400.00, a P/E ratio of 41.41 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 has a twelve month low of $106.73 and a twelve month high of $162.91.
In other Concho Resources news, Director Ray M. Poage sold 4,000 shares of Concho Resources stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $150.87, for a total transaction of $603,480.00. Following the completion of the transaction, the director now directly owns 24,799 shares of the company’s stock, valued at $3,741,425.13. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.99% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in shares of Concho Resources by 0.3% in the second quarter. State Street Corp now owns 7,893,306 shares of the oil and natural gas company’s stock valued at $959,272,000 after buying an additional 20,760 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Concho Resources by 10.0% in the fourth quarter. Jennison Associates LLC now owns 6,201,680 shares of the oil and natural gas company’s stock valued at $931,616,000 after buying an additional 561,485 shares during the last quarter. Carmignac Gestion raised its holdings in shares of Concho Resources by 7.6% in the third quarter. Carmignac Gestion now owns 2,663,795 shares of the oil and natural gas company’s stock valued at $350,875,000 after buying an additional 189,251 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Concho Resources by 8.8% in the third quarter. American Century Companies Inc. now owns 1,456,282 shares of the oil and natural gas company’s stock valued at $191,821,000 after buying an additional 117,366 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Concho Resources by 1.8% in the third quarter. Van ECK Associates Corp now owns 1,273,940 shares of the oil and natural gas company’s stock valued at $167,803,000 after buying an additional 22,828 shares during the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.
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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.
