Cowen set a $165.00 price objective on Concho Resources (NYSE:CXO) in a research note released on Thursday, January 18th. The brokerage currently has a hold rating on the oil and natural gas company’s stock.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Concho Resources from a hold rating to a buy rating and set a $160.00 price objective on the stock in a report on Monday, November 6th. Scotiabank set a $145.00 price target on shares of Concho Resources and gave the stock a buy rating in a research note on Saturday, November 25th. Jefferies Group upgraded shares of Concho Resources from a hold rating to a buy rating and set a $159.00 price target on the stock in a research note on Monday, October 9th. KLR Group lowered shares of Concho Resources from a buy rating to a hold rating and set a $154.00 price target on the stock. in a research note on Thursday, December 21st. Finally, Piper Jaffray Companies reiterated a buy rating and set a $170.00 price target on shares of Concho Resources in a research note on Tuesday, January 9th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $168.55.
Concho Resources (NYSE CXO) traded down $1.11 during trading hours on Thursday, hitting $138.98. 2,268,018 shares of the company were exchanged, compared to its average volume of 1,240,000. The stock has a market cap of $20,670.00, a PE ratio of 36.57 and a beta of 1.00. Concho Resources has a 1 year low of $106.73 and a 1 year high of $162.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66.
In related news, Director Ray M. Poage sold 4,000 shares of the business’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 sale, the director now owns 24,799 shares of the company’s stock, valued at $3,741,425.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Timothy A. Leach sold 40,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $148.14, for a total transaction of $5,925,600.00. Following the sale, 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 ninety days, insiders sold 127,759 shares of company stock worth $18,948,027. Insiders own 0.99% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Suntrust Banks Inc. raised its position in Concho Resources by 26.8% during the fourth quarter. Suntrust Banks Inc. now owns 11,287 shares of the oil and natural gas company’s stock worth $1,694,000 after acquiring an additional 2,385 shares during the last quarter. Timber Hill LLC acquired a new position in Concho Resources during the fourth quarter worth about $422,000. Norinchukin Bank The raised its position in Concho Resources by 7.4% during the fourth quarter. Norinchukin Bank The now owns 11,889 shares of the oil and natural gas company’s stock worth $1,786,000 after acquiring an additional 820 shares during the last quarter. American International Group Inc. raised its position in shares of Concho Resources by 18.6% in the fourth quarter. American International Group Inc. now owns 54,724 shares of the oil and natural gas company’s stock valued at $8,221,000 after buying an additional 8,599 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Concho Resources in the fourth quarter valued at approximately $1,552,000. Institutional investors own 94.86% 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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