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

Jefferies Group set a $173.00 price objective on Concho Resources (NYSE:CXO) in a research report report published on Wednesday. The firm currently has a buy rating on the oil and natural gas company’s stock. Jefferies Group also issued estimates for Concho Resources’ Q1 2018 earnings at $0.59 EPS, Q2 2018 earnings at $0.65 EPS, Q3 2018 earnings at $0.77 EPS and Q4 2018 earnings at $0.82 EPS.

CXO has been the subject of several other research reports. Royal Bank of Canada set a $158.00 target price on shares of Concho Resources and gave the stock a buy rating in a report on Thursday, August 24th. Barclays increased their target price on shares of Concho Resources from $124.00 to $144.00 and gave the stock an overweight rating in a report on Wednesday, October 11th. Cowen restated a hold rating and set a $145.00 target price on shares of Concho Resources in a report on Sunday, October 22nd. Zacks Investment Research upgraded shares of Concho Resources from a hold rating to a buy rating and set a $149.00 target price for the company in a report on Monday, October 16th. Finally, Morgan Stanley increased their target price on shares of Concho Resources from $152.00 to $155.00 and gave the stock an overweight rating in a report on Wednesday, October 18th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $153.47.

Shares of Concho Resources (NYSE CXO) traded up $1.94 on Wednesday, reaching $151.77. 1,165,331 shares of the company traded hands, compared to its average volume of 995,832. Concho Resources has a fifty-two week low of $106.73 and a fifty-two week high of $152.67. The firm has a market capitalization of $22,570.00, a PE ratio of 39.94 and a beta of 1.08. 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 (NYSE:CXO) last announced its earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.19. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The business had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $614.12 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The firm’s revenue was up 45.8% on a year-over-year basis. equities research analysts predict that Concho Resources will post 1.85 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of CXO. C M Bidwell & Associates Ltd. raised its position in shares of Concho Resources by 1.4% in the second quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock valued at $182,000 after purchasing an additional 20 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Concho Resources by 1.0% in the second quarter. Oppenheimer & Co. Inc. now owns 3,502 shares of the oil and natural gas company’s stock valued at $426,000 after purchasing an additional 35 shares during the period. Cadence Capital Management LLC raised its position in shares of Concho Resources by 0.9% in the second quarter. Cadence Capital Management LLC now owns 5,255 shares of the oil and natural gas company’s stock valued at $639,000 after purchasing an additional 48 shares during the period. Private Advisor Group LLC raised its position in shares of Concho Resources by 2.5% in the second quarter. Private Advisor Group LLC now owns 2,501 shares of the oil and natural gas company’s stock valued at $304,000 after purchasing an additional 60 shares during the period. Finally, Symphony Asset Management LLC raised its position in shares of Concho Resources by 2.5% in the second quarter. Symphony Asset Management LLC now owns 2,804 shares of the oil and natural gas company’s stock valued at $341,000 after purchasing an additional 69 shares during the period. 94.47% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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