Concho Resources Inc (NYSE:CXO) has been given an average recommendation of “Buy” by the twenty-two brokerages that are covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $153.29.
Several research analysts have recently issued reports on CXO shares. ValuEngine upgraded Concho Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Piper Jaffray Companies reduced their price objective on Concho Resources from $167.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, September 18th. Royal Bank of Canada restated a “buy” rating and issued a $158.00 price objective on shares of Concho Resources in a research note on Friday, September 29th. Stifel Nicolaus set a $185.00 price objective on Concho Resources and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, Jefferies Group upgraded Concho Resources from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research note on Monday, October 9th.
In related news, Director Ray M. Poage sold 4,000 shares of Concho Resources stock in a transaction that occurred 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 in the company, 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.
Shares of Concho Resources (NYSE CXO) traded up $1.99 during midday trading on Tuesday, reaching $155.60. The company’s stock had a trading volume of 1,081,099 shares, compared to its average volume of 1,014,050. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $23,120.00, a P/E ratio of 40.95 and a beta of 1.08. Concho Resources has a fifty-two week low of $106.73 and a fifty-two week high of $155.70.
Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.19. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The firm had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $614.12 million. During the same period last year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 45.8% compared to the same quarter last year. analysts expect that Concho Resources will post 1.85 EPS for the current year.
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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.
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