Concho Resources Inc. (CXO) PT Set at $145.00 by Scotiabank

Concho Resources Inc. (NYSE:CXO) received a $145.00 target price from stock analysts at Scotiabank in a note issued to investors on Saturday. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. Scotiabank’s price target indicates a potential upside of 3.14% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Jefferies Group LLC upgraded Concho Resources from a “hold” rating to a “buy” rating and set a $159.00 price target on the stock in a research report on Monday, October 9th. Stifel Nicolaus set a $185.00 price target on Concho Resources and gave the company a “buy” rating in a research report on Thursday, October 5th. Royal Bank Of Canada reiterated a “buy” rating and issued a $158.00 price target on shares of Concho Resources in a research report on Friday, September 29th. Citigroup Inc. reduced their price target on Concho Resources from $151.00 to $149.00 and set a “buy” rating on the stock in a research report on Tuesday, August 15th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Concho Resources in a research report on Friday, August 11th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Concho Resources currently has a consensus rating of “Buy” and an average price target of $153.89.

Shares of Concho Resources (CXO) opened at $140.58 on Friday. The firm has a market capitalization of $20,900.00, a price-to-earnings ratio of 84.69 and a beta of 1.09. Concho Resources has a 52-week low of $106.73 and a 52-week high of $147.77. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32.

Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.19. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The business had revenue of $627.00 million for the quarter, compared to analyst estimates of $614.12 million. During the same quarter in the previous year, the company posted $0.32 EPS. Concho Resources’s quarterly revenue was up 45.8% compared to the same quarter last year. analysts forecast that Concho Resources will post 1.82 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its position in shares of Concho Resources by 5.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 78,905 shares of the oil and natural gas company’s stock valued at $10,393,000 after purchasing an additional 4,091 shares in the last quarter. Davis Selected Advisers boosted its position in shares of Concho Resources by 150.1% during the 3rd quarter. Davis Selected Advisers now owns 136,047 shares of the oil and natural gas company’s stock valued at $17,923,000 after purchasing an additional 81,649 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in shares of Concho Resources during the 3rd quarter valued at about $584,000. Sterling Capital Management LLC boosted its position in shares of Concho Resources by 2.1% during the 3rd quarter. Sterling Capital Management LLC now owns 43,119 shares of the oil and natural gas company’s stock valued at $5,680,000 after purchasing an additional 900 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Concho Resources by 2.3% during the 3rd quarter. California Public Employees Retirement System now owns 297,930 shares of the oil and natural gas company’s stock valued at $39,243,000 after purchasing an additional 6,830 shares in the last quarter. Institutional investors own 92.66% of the company’s stock.

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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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