A number of research firms have changed their ratings and price targets for Concho Resources (NYSE: CXO):
- 7/21/2017 - Concho Resources had its price target lowered by analysts at Citigroup Inc. from $166.00 to $151.00. They now have a “buy” rating on the stock.
- 7/19/2017 - Concho Resources was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
- 7/19/2017 - Concho Resources was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Considering Concho Resources' service cost inflation and the negative sentiment surrounding oil prices, we have turned bearish on the Permian pure play. With rig prices rising on the back of stronger demand and stiff competition putting upward pressure on service costs, the company's margins are set to suffer. As it is, land prices in the Permian are surging, which will again make drilling costly. Crude's renewed decline will hamper Concho Resources' earnings and cash flows. Lack of geographical diversification also keep us worried. Therefore, ahead of its second-quarter results, we see the company as a risky bet that is best avoided at the moment.”
- 7/19/2017 - Concho Resources was given a new $140.00 price target on by analysts at Jefferies Group LLC. They now have a “hold” rating on the stock.
- 7/18/2017 - Concho Resources was given a new $145.00 price target on by analysts at Cowen and Company. They now have a “hold” rating on the stock.
- 7/14/2017 - Concho Resources had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $192.00 price target on the stock.
- 7/13/2017 - Concho Resources had its price target lowered by analysts at Citigroup Inc. from $168.00 to $166.00. They now have a “buy” rating on the stock.
- 7/1/2017 - Concho Resources was given a new $125.00 price target on by analysts at Scotiabank. They now have a “buy” rating on the stock.
- 6/30/2017 - Concho Resources was downgraded by analysts at Bank of America Corporation from a “buy” rating to a “neutral” rating. They now have a $128.00 price target on the stock, down previously from $155.00.
- 6/30/2017 - Concho Resources was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 6/22/2017 - Concho Resources was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 6/22/2017 - Concho Resources had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $180.00 price target on the stock.
- 6/21/2017 - Concho Resources was downgraded by analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating. They now have a $100.00 price target on the stock, down previously from $163.00.
- 6/17/2017 - Concho Resources was given a new $178.00 price target on by analysts at Royal Bank Of Canada. They now have a “buy” rating on the stock.
- 6/2/2017 - Concho Resources was given a new $164.00 price target on by analysts at Credit Suisse Group. They now have a “buy” rating on the stock.
- 6/2/2017 - Concho Resources was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
Shares of Concho Resources Inc. (CXO) traded down 0.83% during midday trading on Friday, reaching $131.00. 690,363 shares of the company traded hands. The company has a 50-day moving average of $122.29 and a 200 day moving average of $129.69. The firm has a market capitalization of $19.27 billion, a PE ratio of 90.16 and a beta of 1.08. Concho Resources Inc. has a 12-month low of $112.73 and a 12-month high of $147.55.
Concho Resources (NYSE:CXO) last released its quarterly earnings results on Wednesday, May 3rd. The oil and natural gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.18. Concho Resources had a net margin of 10.60% and a return on equity of 2.44%. The business had revenue of $612 million for the quarter, compared to analysts’ expectations of $607.71 million. During the same period in the previous year, the company earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 115.5% compared to the same quarter last year. On average, equities analysts forecast that Concho Resources Inc. will post $1.52 earnings per share for the current year.
In related news, Director Lawrence J. Nagy sold 120,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $0.27, for a total transaction of $32,400.00. 1.20% of the stock is currently owned by insiders.
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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