Concho Resources (NYSE:CXO) was downgraded by equities research analysts at KLR Group to a “hold” rating in a report issued on Wednesday. They presently have a $154.00 price objective on the oil and natural gas company’s stock. KLR Group’s price objective suggests a potential upside of 1.97% from the stock’s current price.
CXO has been the topic of a number of other reports. Barclays boosted their price objective on shares of Concho Resources from $124.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Cowen reissued a “hold” rating and set a $145.00 price objective on shares of Concho Resources in a research report on Sunday, October 22nd. Royal Bank of Canada set a $167.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research raised shares of Concho Resources from a “hold” rating to a “buy” rating and set a $149.00 target price on the stock in a research report on Monday, October 16th. Finally, Jefferies Group set a $173.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Concho Resources presently has a consensus rating of “Buy” and an average price target of $151.63.
Shares of Concho Resources (CXO) traded down $2.89 during midday trading on Wednesday, hitting $151.03. 1,035,100 shares of the company traded hands, compared to its average volume of 1,261,569. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32. Concho Resources has a 12 month low of $106.73 and a 12 month high of $155.05. The stock has a market capitalization of $22,990.00, a P/E ratio of 39.74 and a beta of 1.08.
A number of institutional investors and hedge funds have recently bought and sold shares of CXO. C M Bidwell & Associates Ltd. increased its position in shares of Concho Resources by 1.4% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock valued at $182,000 after purchasing an additional 20 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Concho Resources by 1.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 3,502 shares of the oil and natural gas company’s stock valued at $426,000 after purchasing an additional 35 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Concho Resources by 2.5% during the 2nd quarter. Private Advisor Group LLC now owns 2,501 shares of the oil and natural gas company’s stock valued at $304,000 after purchasing an additional 60 shares during the last quarter. Symphony Asset Management LLC increased its position in shares of Concho Resources by 2.5% during the 2nd quarter. Symphony Asset Management LLC now owns 2,804 shares of the oil and natural gas company’s stock valued at $341,000 after purchasing an additional 69 shares during the last quarter. Finally, Israel Discount Bank of New York increased its position in shares of Concho Resources by 32.0% during the 2nd quarter. Israel Discount Bank of New York now owns 825 shares of the oil and natural gas company’s stock valued at $100,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 94.47% of the company’s stock.
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.
