Concho Resources (NYSE:CXO) received a $185.00 target price from stock analysts at Jefferies Group in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Jefferies Group’s target price suggests a potential upside of 17.56% from the stock’s previous close.
CXO has been the subject of a number of other reports. Barclays raised their price target on Concho Resources from $124.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday, October 11th. 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. Cowen reissued a “hold” rating and set a $145.00 price objective on shares of Concho Resources in a research note on Sunday, October 22nd. Royal Bank of Canada set a $167.00 price objective on Concho Resources and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Zacks Investment Research raised Concho Resources from a “hold” rating to a “buy” rating and set a $149.00 price objective for the company in a research note on Monday, October 16th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $164.11.
Concho Resources (NYSE:CXO) traded down $3.92 during trading hours on Tuesday, reaching $157.36. The company’s stock had a trading volume of 1,605,762 shares, compared to its average volume of 1,040,000. Concho Resources has a twelve month low of $106.73 and a twelve month high of $162.91. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $23,400.00, a P/E ratio of 41.41 and a beta of 1.08.
In other Concho Resources news, Director Ray M. Poage sold 4,000 shares of Concho Resources stock in a transaction dated 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 sale, the director now owns 24,799 shares of the company’s stock, valued at $3,741,425.13. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.99% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its holdings in shares of Concho Resources by 12.4% in the third quarter. Toronto Dominion Bank now owns 56,398 shares of the oil and natural gas company’s stock worth $7,428,000 after buying an additional 6,206 shares during the period. Nordea Investment Management AB increased its holdings in Concho Resources by 33.6% during the 2nd quarter. Nordea Investment Management AB now owns 7,968 shares of the oil and natural gas company’s stock valued at $968,000 after purchasing an additional 2,003 shares during the period. Texas Capital Bancshares Inc. TX increased its holdings in Concho Resources by 5.5% during the 3rd quarter. Texas Capital Bancshares Inc. TX now owns 7,274 shares of the oil and natural gas company’s stock valued at $958,000 after purchasing an additional 380 shares during the period. Asset Management One Co. Ltd. increased its holdings in Concho Resources by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 241,786 shares of the oil and natural gas company’s stock valued at $31,851,000 after purchasing an additional 1,440 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Concho Resources by 11.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 361,781 shares of the oil and natural gas company’s stock valued at $47,654,000 after purchasing an additional 36,662 shares during the period. Hedge funds and other institutional investors own 94.44% 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.
