Jefferies Group set a $187.00 price target on Concho Resources (NYSE:CXO) in a research note released on Monday morning. The firm currently has a buy rating on the oil and natural gas company’s stock. Jefferies Group also issued estimates for Concho Resources’ Q1 2018 earnings at $0.92 EPS, Q2 2018 earnings at $0.96 EPS, Q3 2018 earnings at $1.11 EPS, Q4 2018 earnings at $1.17 EPS, FY2018 earnings at $4.16 EPS, Q1 2019 earnings at $1.16 EPS, Q2 2019 earnings at $1.22 EPS, Q3 2019 earnings at $1.31 EPS, Q4 2019 earnings at $1.42 EPS and FY2019 earnings at $5.11 EPS.

CXO has been the topic of a number of other reports. Deutsche Bank assumed coverage on shares of Concho Resources in a research report on Thursday, February 1st. They issued a hold rating and a $171.00 price target on the stock. SunTrust Banks downgraded shares of Concho Resources from a buy rating to a hold rating and set a $180.00 price target on the stock. in a research report on Tuesday, February 6th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Concho Resources from a hold rating to a buy rating and set a $155.00 price objective on the stock in a report on Friday, December 15th. KLR Group cut shares of Concho Resources to a hold rating and set a $154.00 price objective on the stock. in a report on Wednesday, December 27th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $170.00 price objective on shares of Concho Resources in a report on Tuesday, January 9th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Concho Resources has an average rating of Buy and an average target price of $170.90.

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Concho Resources stock opened at $153.02 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.51 and a quick ratio of 0.50. Concho Resources has a 52-week low of $106.73 and a 52-week high of $162.91. The stock has a market cap of $22,831.24, a PE ratio of 23.87, a PEG ratio of 0.90 and a beta of 1.01.

Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.20. Concho Resources had a net margin of 36.97% and a return on equity of 3.61%. The company had revenue of $780.00 million for the quarter, compared to the consensus estimate of $720.51 million. During the same period last year, the firm posted $0.20 EPS. The company’s revenue for the quarter was up 48.6% on a year-over-year basis. research analysts anticipate that Concho Resources will post 3.79 earnings per share for the current year.

In other Concho Resources news, Director Ray M. Poage sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $150.87, for a total transaction of $603,480.00. Following the transaction, the director now owns 24,799 shares of the company’s stock, valued at approximately $3,741,425.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Timothy A. Leach sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $148.14, for a total transaction of $5,925,600.00. Following the transaction, the chairman now directly owns 737,837 shares in the company, valued at approximately $109,303,173.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 127,759 shares of company stock worth $18,948,027. 0.99% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. boosted its position in shares of Concho Resources by 325.2% during the 4th quarter. Meeder Asset Management Inc. now owns 910 shares of the oil and natural gas company’s stock valued at $137,000 after purchasing an additional 696 shares in the last quarter. ING Groep NV bought a new position in shares of Concho Resources during the 4th quarter valued at about $201,000. Park Avenue Securities LLC bought a new position in shares of Concho Resources during the 4th quarter valued at about $208,000. Greylin Investment Mangement Inc. bought a new position in shares of Concho Resources during the 4th quarter valued at about $225,000. Finally, Harbor Advisors LLC bought a new position in shares of Concho Resources during the 4th quarter valued at about $225,000. 95.70% of the stock is currently owned by hedge funds and other institutional investors.

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About Concho Resources

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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