Concho Resources (NYSE:CXO) had its target price hoisted by analysts at UBS Group from $74.00 to $99.00 in a research note issued on Monday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the oil and natural gas company’s stock. UBS Group’s price target would suggest a potential upside of 92.23% from the stock’s previous close.
CXO has been the topic of several other research reports. lowered shares of Concho Resources from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 9th. Piper Sandler increased their price target on shares of Concho Resources from $54.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Siebert Williams Shank restated a “buy” rating and set a $78.00 price target on shares of Concho Resources in a research note on Tuesday, March 17th. Barclays lowered their target price on shares of Concho Resources from $77.00 to $74.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 3rd. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Concho Resources in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Concho Resources currently has a consensus rating of “Buy” and a consensus target price of $85.04.
Concho Resources stock opened at $51.50 on Monday. The firm’s 50 day moving average price is $57.34 and its two-hundred day moving average price is $65.15. Concho Resources has a twelve month low of $33.13 and a twelve month high of $105.93. The firm has a market cap of $9.83 billion, a PE ratio of -1.08, a P/E/G ratio of 4.69 and a beta of 1.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.14 and a current ratio of 2.16.
Concho Resources (NYSE:CXO) last announced its quarterly earnings results on Thursday, April 30th. The oil and natural gas company reported $0.72 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. Concho Resources had a negative net margin of 210.59% and a positive return on equity of 3.89%. The company had revenue of $922.00 million for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the business posted $0.72 EPS. Concho Resources’s quarterly revenue was down 16.5% on a year-over-year basis. Equities analysts anticipate that Concho Resources will post 2.45 EPS for the current fiscal year.
In other news, Director Steven L. Beal sold 19,500 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $61.66, for a total transaction of $1,202,370.00. Following the completion of the transaction, the director now directly owns 51,492 shares of the company’s stock, valued at approximately $3,174,996.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Concho Resources during the 1st quarter worth about $27,000. Sandy Spring Bank bought a new position in shares of Concho Resources during the 1st quarter worth about $34,000. Meeder Asset Management Inc. lifted its holdings in shares of Concho Resources by 2,515.1% during the 1st quarter. Meeder Asset Management Inc. now owns 1,386 shares of the oil and natural gas company’s stock worth $60,000 after acquiring an additional 1,333 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Concho Resources by 60.3% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,127 shares of the oil and natural gas company’s stock worth $91,000 after acquiring an additional 800 shares during the period. Finally, CSat Investment Advisory L.P. increased its position in shares of Concho Resources by 25.9% during the 1st quarter. CSat Investment Advisory L.P. now owns 2,124 shares of the oil and natural gas company’s stock worth $91,000 after purchasing an additional 437 shares in the last quarter. 93.76% of the stock is owned by institutional investors.
Concho Resources Company Profile
Concho Resources, Inc engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include Delaware Basin, and Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.
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