Concho Resources Inc. (NYSE:CXO) had its price target hoisted by Barclays PLC from $144.00 to $156.00 in a report published on Monday morning. The firm currently has an overweight rating on the oil and natural gas company’s stock.

Other research analysts have also recently issued research reports about the stock. Piper Jaffray Companies reduced their price target on shares of Concho Resources from $167.00 to $142.00 and set an overweight rating for the company in a report on Monday, September 18th. ValuEngine upgraded shares of Concho Resources from a sell rating to a hold rating in a report on Wednesday, September 13th. BMO Capital Markets reiterated a buy rating on shares of Concho Resources in a report on Friday, August 11th. Citigroup Inc. reduced their price target on shares of Concho Resources from $151.00 to $149.00 and set a buy rating for the company in a report on Tuesday, August 15th. Finally, Zacks Investment Research cut shares of Concho Resources from a hold rating to a sell rating in a report on Wednesday, August 9th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Concho Resources presently has a consensus rating of Buy and an average price target of $152.84.

Concho Resources (NYSE CXO) opened at $140.29 on Monday. The firm has a market cap of $20,762.42, a P/E ratio of 84.11 and a beta of 1.09. Concho Resources has a 1-year low of $106.73 and a 1-year high of $147.77. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.32.

Concho Resources (NYSE:CXO) last released its quarterly earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.19. The company had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $614.12 million. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. sell-side analysts expect that Concho Resources will post 1.79 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in CXO. Israel Discount Bank of New York raised its position in shares of Concho Resources by 32.0% in the second 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 period. NN Investment Partners Holdings N.V. raised its position in shares of Concho Resources by 22.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,090 shares of the oil and natural gas company’s stock valued at $132,000 after purchasing an additional 200 shares during the period. Sun Life Financial INC raised its position in shares of Concho Resources by 10,850.0% in the second quarter. Sun Life Financial INC now owns 1,095 shares of the oil and natural gas company’s stock valued at $133,000 after purchasing an additional 1,085 shares during the period. Twin Tree Management LP bought a new position in shares of Concho Resources in the second quarter valued at about $137,000. Finally, C M Bidwell & Associates Ltd. raised its position in shares of Concho Resources by 1.4% in the second 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 period. Hedge funds and other institutional investors own 92.66% 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.

Analyst Recommendations for Concho Resources (NYSE:CXO)

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