Concho Resources (CXO) Given a $173.00 Price Target at Jefferies Group

Concho Resources (NYSE:CXO) has been assigned a $173.00 price objective by investment analysts at Jefferies Group in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the oil and natural gas company’s stock. Jefferies Group’s price target indicates a potential upside of 17.84% from the company’s previous close.

A number of other analysts have also weighed in on CXO. Royal Bank of Canada set a $158.00 target price on Concho Resources and gave the stock a “buy” rating in a research note on Thursday, August 24th. ValuEngine upgraded Concho Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Piper Jaffray Companies reduced their target price on Concho Resources from $167.00 to $142.00 and set an “overweight” rating on the stock in a research note on Monday, September 18th. Stifel Nicolaus set a $185.00 target price on Concho Resources and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, Barclays increased their target price on Concho Resources from $124.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $153.47.

Shares of Concho Resources (NYSE:CXO) opened at $146.81 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66. Concho Resources has a 52 week low of $106.73 and a 52 week high of $147.77. The firm has a market capitalization of $20,863.54, a price-to-earnings ratio of 84.52 and a beta of 1.09.

Concho Resources (NYSE:CXO) last released its earnings results 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 last year, the firm posted $0.32 earnings per share. The business’s revenue was up 45.8% compared to the same quarter last year. sell-side analysts expect that Concho Resources will post 1.82 EPS for the current year.

Several institutional investors have recently made changes to their positions in CXO. JPMorgan Chase & Co. boosted its position in Concho Resources by 30.8% during the second quarter. JPMorgan Chase & Co. now owns 6,790,818 shares of the oil and natural gas company’s stock valued at $825,288,000 after purchasing an additional 1,599,084 shares in the last quarter. Capital World Investors boosted its position in Concho Resources by 10.6% during the second quarter. Capital World Investors now owns 10,792,500 shares of the oil and natural gas company’s stock valued at $1,311,613,000 after purchasing an additional 1,034,000 shares in the last quarter. Vanguard Group Inc. boosted its position in Concho Resources by 3.1% during the second quarter. Vanguard Group Inc. now owns 15,139,409 shares of the oil and natural gas company’s stock valued at $1,839,892,000 after purchasing an additional 454,428 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in Concho Resources during the second quarter valued at about $52,513,000. Finally, Dimensional Fund Advisors LP boosted its position in Concho Resources by 45.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,213,337 shares of the oil and natural gas company’s stock valued at $159,823,000 after purchasing an additional 377,438 shares in the last quarter. Hedge funds and other institutional investors own 94.47% of the company’s stock.

TRADEMARK VIOLATION WARNING: This news story was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this news story on another site, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this news story can be read at https://sportsperspectives.com/2017/12/21/concho-resources-cxo-earns-buy-rating-from-jefferies-group.html.

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.

Analyst Recommendations for Concho Resources (NYSE:CXO)

Receive News & Ratings for Concho Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concho Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply