Concho Resources (NYSE:CXO) has been assigned a $173.00 price target by analysts at Jefferies Group in a report issued on Wednesday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Jefferies Group’s price target indicates a potential upside of 13.99% from the company’s previous close. Jefferies Group also issued estimates for Concho Resources’ Q1 2018 earnings at $0.59 EPS, Q2 2018 earnings at $0.65 EPS, Q3 2018 earnings at $0.77 EPS and Q4 2018 earnings at $0.82 EPS.
Several other brokerages have also weighed in on CXO. Zacks Investment Research upgraded shares of Concho Resources from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a report on Monday, November 6th. SunTrust Banks set a $145.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a report on Tuesday, October 31st. KeyCorp set a $150.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a report on Thursday, October 19th. Stifel Nicolaus set a $185.00 price objective on shares of Concho Resources and gave the stock a “buy” rating in a report on Thursday, October 5th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $158.00 price objective on shares of Concho Resources in a report on Friday, September 29th. Nine investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $153.47.
Concho Resources (NYSE:CXO) traded up $1.94 during trading on Wednesday, hitting $151.77. 1,165,331 shares of the company’s stock traded hands, compared to its average volume of 995,832. Concho Resources has a one year low of $106.73 and a one year high of $152.67. The firm has a market cap of $22,570.00, a PE ratio of 39.94 and a beta of 1.08. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66.
Large investors have recently modified their holdings of the business. Atlantic Trust Group LLC grew its position in shares of Concho Resources by 33.2% during the third quarter. Atlantic Trust Group LLC now owns 100,220 shares of the oil and natural gas company’s stock worth $13,202,000 after buying an additional 24,975 shares in the last quarter. AXA lifted its stake in Concho Resources by 1.6% in the third quarter. AXA now owns 401,060 shares of the oil and natural gas company’s stock valued at $52,828,000 after buying an additional 6,378 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Concho Resources by 5.5% in the third quarter. Public Employees Retirement System of Ohio now owns 78,905 shares of the oil and natural gas company’s stock valued at $10,393,000 after buying an additional 4,091 shares during the last quarter. Davis Selected Advisers lifted its stake in Concho Resources by 150.1% in the third quarter. Davis Selected Advisers now owns 136,047 shares of the oil and natural gas company’s stock valued at $17,923,000 after buying an additional 81,649 shares during the last quarter. Finally, IFM Investors Pty Ltd bought a new stake in Concho Resources in the third quarter valued at $584,000. 94.47% of the stock is owned by institutional investors.
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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.
