A number of other research analysts have also recently issued reports on the stock. Royal Bank of Canada set a $167.00 price target on shares of Concho Resources and gave the company a buy rating in a research report on Wednesday. Jefferies Group set a $173.00 price target on shares of Concho Resources and gave the company a buy rating in a research report on Wednesday. Zacks Investment Research cut shares of Concho Resources from a buy rating to a hold rating in a research report on Monday. Credit Suisse Group began coverage on shares of Concho Resources in a research report on Monday, December 11th. They set a neutral rating and a $136.00 price target for the company. Finally, Scotiabank set a $145.00 price target on shares of Concho Resources and gave the company a buy rating in a research report on Saturday, November 25th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Concho Resources has an average rating of Buy and an average price target of $153.47.
Concho Resources (NYSE:CXO) traded up $3.02 during trading hours on Thursday, hitting $149.83. 1,957,400 shares of the stock traded hands, compared to its average volume of 1,263,324. Concho Resources has a 12-month low of $106.73 and a 12-month high of $151.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $21,830.06, a PE ratio of 88.44 and a beta of 1.09.
Several hedge funds have recently made changes to their positions in CXO. JPMorgan Chase & Co. grew its stake in shares of Concho Resources by 30.8% in the second quarter. JPMorgan Chase & Co. now owns 6,790,818 shares of the oil and natural gas company’s stock worth $825,288,000 after acquiring an additional 1,599,084 shares during the period. Capital World Investors grew its stake in shares of Concho Resources by 10.6% in the second quarter. Capital World Investors now owns 10,792,500 shares of the oil and natural gas company’s stock worth $1,311,613,000 after acquiring an additional 1,034,000 shares during the period. Vanguard Group Inc. grew its stake in shares of Concho Resources by 3.1% in the second quarter. Vanguard Group Inc. now owns 15,139,409 shares of the oil and natural gas company’s stock worth $1,839,892,000 after acquiring an additional 454,428 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of Concho Resources in the second quarter worth approximately $52,513,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Concho Resources by 45.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,213,337 shares of the oil and natural gas company’s stock worth $159,823,000 after acquiring an additional 377,438 shares during the period. Hedge funds and other institutional investors own 94.47% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This piece of content was originally published by Community Financial News and is the property of of Community Financial News. If you are reading this piece of content on another website, it was illegally stolen and republished in violation of U.S. & international trademark and copyright law. The correct version of this piece of content can be accessed at https://www.com-unik.info/2017/12/22/concho-resources-cxo-downgraded-by-klr-group-to-hold.html.
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.
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.