Concho Resources (CXO) Earns “Buy” Rating from BMO Capital Markets
Concho Resources (NYSE:CXO)‘s stock had its “buy” rating restated by BMO Capital Markets in a research report issued on Sunday. They presently have a $200.00 price objective on the oil and natural gas company’s stock. BMO Capital Markets’ target price indicates a potential upside of 25.72% from the stock’s current price.
A number of other equities research analysts have also issued reports on the company. Piper Jaffray Companies reissued a “buy” rating and set a $170.00 price target on shares of Concho Resources in a research note on Tuesday, January 9th. Bank of America raised Concho Resources from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Thursday, January 4th. Zacks Investment Research lowered Concho Resources from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. KLR Group lowered Concho Resources to a “hold” rating and set a $154.00 price target for the company. in a research note on Wednesday, December 27th. Finally, Royal Bank of Canada set a $167.00 price target on Concho Resources and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Concho Resources currently has an average rating of “Buy” and a consensus target price of $157.42.
Shares of Concho Resources (CXO) opened at $159.09 on Friday. The stock has a market capitalization of $23,656.05, a P/E ratio of 42.31 and a beta of 1.08. Concho Resources has a one year low of $106.73 and a one year high of $159.52. 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 posted its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.19. The business had revenue of $627.00 million during the quarter, compared to analyst estimates of $614.12 million. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period last year, the company earned $0.32 EPS. sell-side analysts predict that Concho Resources will post 1.86 earnings per share for the current fiscal year.
In other Concho Resources news, Director Ray M. Poage sold 4,000 shares of Concho Resources stock in a transaction 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 sale, the director now directly owns 24,799 shares of the company’s stock, valued at approximately $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.
Hedge funds and other institutional investors have recently modified their holdings of the business. Sun Life Financial INC raised its position in Concho Resources by 10,850.0% during the 2nd 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 in the last quarter. C M Bidwell & Associates Ltd. increased its holdings in shares of Concho Resources by 1.4% in the 2nd 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 acquiring an additional 20 shares during the period. Commonwealth Equity Services Inc purchased a new position in shares of Concho Resources in the 3rd quarter valued at $206,000. Tower Research Capital LLC TRC increased its holdings in shares of Concho Resources by 145.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the oil and natural gas company’s stock valued at $216,000 after acquiring an additional 1,051 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Concho Resources by 37.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,854 shares of the oil and natural gas company’s stock valued at $226,000 after acquiring an additional 501 shares during the period. 94.47% of the stock is owned by institutional investors and hedge funds.
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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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