Todays Report: Today, Concho Resources Inc. (CXO) Receives $139.85 Consensus PT from Brokerages

Today, Concho Resources Inc. (CXO) Receives $139.85 Consensus PT from Brokerages

Concho Resources Inc. (NYSE:CXO) has been assigned a consensus recommendation of “Buy” from the twenty-five ratings firms that are covering the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $139.65.

Several equities analysts recently commented on CXO shares. Citigroup Inc. upped their target price on Concho Resources from $150.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, August 26th. Johnson Rice began coverage on Concho Resources in a research report on Tuesday, October 4th. They set an “accumulate” rating for the company. Jefferies Group set a $123.00 price target on Concho Resources and gave the company a “hold” rating in a research report on Tuesday, October 18th. Credit Suisse Group AG boosted their price target on Concho Resources from $145.00 to $154.00 and gave the company an “outperform” rating in a research report on Wednesday, August 24th. Finally, Simmons reissued a “buy” rating on shares of Concho Resources in a research report on Monday, August 22nd.

Hedge funds have recently made changes to their positions in the company. Checchi Capital Advisers LLC raised its position in shares of Concho Resources by 1.7% in the second quarter. Checchi Capital Advisers LLC now owns 1,107 shares of the company’s stock worth $132,000 after buying an additional 18 shares during the period. Syntal Capital Partners LLC raised its position in shares of Concho Resources by 1.0% in the second quarter. Syntal Capital Partners LLC now owns 2,755 shares of the company’s stock worth $328,000 after buying an additional 26 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in shares of Concho Resources by 0.9% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 4,972 shares of the company’s stock worth $593,000 after buying an additional 43 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in shares of Concho Resources by 1.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,281 shares of the company’s stock worth $352,000 after buying an additional 54 shares during the period. Finally, Dean Investment Associates LLC raised its position in shares of Concho Resources by 1.3% in the third quarter. Dean Investment Associates LLC now owns 4,868 shares of the company’s stock worth $669,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 92.22% of the company’s stock.

Shares of Concho Resources (NYSE:CXO) opened at 138.39 on Tuesday. The stock’s 50 day moving average price is $134.35 and its 200 day moving average price is $127.10. Concho Resources has a 12 month low of $69.94 and a 12 month high of $143.60. The firm’s market cap is $19.51 billion.

Concho Resources (NYSE:CXO) last released its earnings results on Tuesday, November 8th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.14. The firm earned $430.55 million during the quarter, compared to analyst estimates of $69.10 million. Concho Resources had a positive return on equity of 0.93% and a negative net margin of 89.23%. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 earnings per share. Equities research analysts predict that Concho Resources will post $0.43 earnings per share for the current fiscal year.

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