Stifel Nicolaus Analysts Give Concho Resources Inc. (CXO) a $185.00 Price Target

Stifel Nicolaus set a $185.00 price target on Concho Resources Inc. (NYSE:CXO) in a report released on Thursday morning. The firm currently has a buy rating on the oil and natural gas company’s stock.

A number of other research firms also recently weighed in on CXO. Royal Bank Of Canada set a $178.00 price target on shares of Concho Resources and gave the company a buy rating in a research report on Saturday, June 17th. Seaport Global Securities downgraded shares of Concho Resources from a buy rating to a neutral rating and dropped their price target for the company from $163.00 to $100.00 in a research report on Wednesday, June 21st. Zacks Investment Research downgraded shares of Concho Resources from a hold rating to a sell rating in a research report on Wednesday, July 19th. Piper Jaffray Companies dropped their price target on shares of Concho Resources from $167.00 to $142.00 and set an overweight rating for the company in a research report on Monday, September 18th. Finally, BMO Capital Markets reiterated a buy rating and issued a $180.00 price target on shares of Concho Resources in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $146.69.

Shares of Concho Resources (NYSE CXO) opened at 134.91 on Thursday. Concho Resources has a 1-year low of $106.73 and a 1-year high of $147.55. The stock has a 50 day moving average price of $120.33 and a 200 day moving average price of $124.01. The company has a market capitalization of $19.90 billion, a price-to-earnings ratio of 31.31 and a beta of 1.13.

Concho Resources (NYSE:CXO) last released its quarterly earnings results 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. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The company had revenue of $567.00 million during the quarter, compared to the consensus estimate of $626.09 million. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s quarterly revenue was up 43.2% on a year-over-year basis. Analysts forecast that Concho Resources will post $1.61 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Stifel Nicolaus Analysts Give Concho Resources Inc. (CXO) a $185.00 Price Target” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/09/stifel-nicolaus-analysts-give-concho-resources-inc-cxo-a-185-00-price-target.html.

In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the sale, the vice president now owns 132,388 shares of the company’s stock, valued at $15,203,437.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.99% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Advisors Inc. OK bought a new stake in shares of Concho Resources during the second quarter worth $2,093,000. Birinyi Associates Inc. grew its stake in shares of Concho Resources by 4.3% during the second quarter. Birinyi Associates Inc. now owns 11,000 shares of the oil and natural gas company’s stock worth $1,337,000 after buying an additional 450 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Concho Resources by 1.1% during the second quarter. Wells Fargo & Company MN now owns 2,054,048 shares of the oil and natural gas company’s stock worth $249,628,000 after buying an additional 22,167 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Concho Resources by 4.7% during the first quarter. Vanguard Group Inc. now owns 14,684,981 shares of the oil and natural gas company’s stock worth $1,884,670,000 after buying an

A number of other research firms also recently weighed in on CXO. Royal Bank Of Canada set a $178.00 price target on shares of Concho Resources and gave the company a buy rating in a research report on Saturday, June 17th. Seaport Global Securities downgraded shares of Concho Resources from a buy rating to a neutral rating and dropped their price target for the company from $163.00 to $100.00 in a research report on Wednesday, June 21st. Zacks Investment Research downgraded shares of Concho Resources from a hold rating to a sell rating in a research report on Wednesday, July 19th. Piper Jaffray Companies dropped their price target on shares of Concho Resources from $167.00 to $142.00 and set an overweight rating for the company in a research report on Monday, September 18th. Finally, BMO Capital Markets reiterated a buy rating and issued a $180.00 price target on shares of Concho Resources in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $146.69.

Shares of Concho Resources (NYSE CXO) opened at 134.91 on Thursday. Concho Resources has a 1-year low of $106.73 and a 1-year high of $147.55. The stock has a 50 day moving average price of $120.33 and a 200 day moving average price of $124.01. The company has a market capitalization of $19.90 billion, a price-to-earnings ratio of 31.31 and a beta of 1.13.

Concho Resources (NYSE:CXO) last released its quarterly earnings results 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. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The company had revenue of $567.00 million during the quarter, compared to the consensus estimate of $626.09 million. During the same period in the previous year, the business earned $0.26 earnings per share. The firm’s quarterly revenue was up 43.2% on a year-over-year basis. Analysts forecast that Concho Resources will post $1.61 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Stifel Nicolaus Analysts Give Concho Resources Inc. (CXO) a $185.00 Price Target” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/09/stifel-nicolaus-analysts-give-concho-resources-inc-cxo-a-185-00-price-target.html.

In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the sale, the vice president now owns 132,388 shares of the company’s stock, valued at $15,203,437.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.99% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Advisors Inc. OK bought a new stake in shares of Concho Resources during the second quarter worth $2,093,000. Birinyi Associates Inc. grew its stake in shares of Concho Resources by 4.3% during the second quarter. Birinyi Associates Inc. now owns 11,000 shares of the oil and natural gas company’s stock worth $1,337,000 after buying an additional 450 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Concho Resources by 1.1% during the second quarter. Wells Fargo & Company MN now owns 2,054,048 shares of the oil and natural gas company’s stock worth $249,628,000 after buying an additional 22,167 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Concho Resources by 4.7% during the first quarter. Vanguard Group Inc. now owns 14,684,981 shares of the oil and natural gas company’s stock worth $1,884,670,000 after buying an additional 653,569 shares during the last quarter. Finally, Channing Capital Management LLC grew its stake in shares of Concho Resources by 5.5% during the second quarter. Channing Capital Management LLC now owns 91,773 shares of the oil and natural gas company’s stock worth $11,153,000 after buying an additional 4,798 shares during the last quarter. 92.36% of the stock is currently owned by hedge funds and other institutional investors.

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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