Concho Resources’ (NYSE:CXO) Buy Rating Reaffirmed at BMO Capital Markets
Concho Resources Inc. (NYSE:CXO)‘s stock had its “buy” rating reaffirmed by analysts at BMO Capital Markets in a research report issued on Friday.
CXO has been the subject of a number of other reports. Citigroup Inc. decreased their price objective on shares of Concho Resources from $168.00 to $166.00 and set a “buy” rating for the company in a research report on Thursday, July 13th. ValuEngine raised shares of Concho Resources from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Credit Suisse Group set a $164.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research report on Friday, June 2nd. Scotiabank set a $156.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research report on Thursday, May 4th. Finally, BidaskClub raised shares of Concho Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $152.79.
Shares of Concho Resources (CXO) opened at 116.09 on Friday. The stock’s 50 day moving average price is $123.16 and its 200-day moving average price is $128.84. Concho Resources has a 52-week low of $112.73 and a 52-week high of $147.55. The firm has a market cap of $17.13 billion, a PE ratio of 26.94 and a beta of 1.09.
Concho Resources (NYSE:CXO) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $567 million during the quarter, compared to analysts’ expectations of $626.09 million. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The firm’s revenue for the quarter was up 43.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 EPS. On average, equities research analysts anticipate that Concho Resources will post $1.58 earnings per share for the current fiscal year.
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In other Concho Resources news, Director Lawrence J. Nagy sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $0.27, for a total value of $32,400.00. 1.20% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Israel Discount Bank of New York raised its stake 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 buying an additional 200 shares during the last quarter. Balentine LLC raised its stake in shares of Concho Resources by 176.7% in the first quarter. Balentine LLC now owns 830 shares of the oil and natural gas company’s stock valued at $107,000 after buying an additional 530 shares during the last quarter. Exane Derivatives raised its stake in shares of Concho Resources by 247.2% in the second quarter. Exane Derivatives now owns 1,038 shares of the oil and natural gas company’s stock valued at $126,000 after buying an additional 739 shares during the last quarter. NN Investment Partners Holdings N.V. raised its stake 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 buying an additional 200 shares during the last quarter. Finally, Twin Tree Management LP purchased a new stake in shares of Concho Resources during the second quarter valued at approximately $137,000. Institutional investors own 93.13% 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.
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