Concho Resources Inc. (CXO) Upgraded by Wunderlich

Concho Resources Inc. (CXO) has been upgraded today by the research analysts at investment firm Wunderlich which upgraded CXO from a “hold” rating to “buy.”  Wunderlich also set a price target of $105 dollars.  CXO is up during intraday trading.

Concho is slated to release their next earnings report on August 4,th and is estimated to post EPS of 92 cents.  Their last earnings report was released on May 4th, 2011 and announced an EPS of 79 cents with revenue totaling $360.8 million which was up 81.1 % year to year.  They are also scheduled to attend RBC Capital Markets Global Energy and Power Conference on June 6th, 2011.

Concho Resources Inc. was formed in February 2006 and is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties.  The company has market capitalization of $9,780,000,000 and 103,379,000 shares outstanding.  CXO has a 52-week high of $110.89 with the low being $51 dollars.  CXO is currently trading between its 50 & 200-day moving averages and 2011 is currently an up year for the company.

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