Research analysts at Citigroup Inc. raised their price target on shares of Concho Resources (NYSE:CXO) from $130.00 to $160.00 in a report released on Wednesday, ARN reports. Citigroup Inc.’s price objective indicates a potential upside of 21.22% from the company’s current price.
Concho Resources (NYSE:CXO) opened at 131.99 on Wednesday. Concho Resources has a one year low of $79.10 and a one year high of $135.35. The stock’s 50-day moving average is $128.2 and its 200-day moving average is $113.0. The company has a market cap of $13.711 billion and a price-to-earnings ratio of 54.39.
Concho Resources (NYSE:CXO) last released its earnings data on Monday, May 12th. The company reported $1.01 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.97 by $0.04. The company had revenue of $660.96 million for the quarter, compared to the consensus estimate of $629.78 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 40.0% on a year-over-year basis. Analysts expect that Concho Resources will post $4.54 EPS for the current fiscal year.
CXO has been the subject of a number of other recent research reports. Analysts at KLR Group raised their price target on shares of Concho Resources from $6.00 to $156.00 in a research note on Tuesday. Separately, analysts at Deutsche Bank raised their price target on shares of Concho Resources from $137.00 to $140.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at UBS AG reiterated a “hold” rating on shares of Concho Resources in a research note on Tuesday. They now have a $135.00 price target on the stock, up previously from $125.00. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Concho Resources has a consensus rating of “Buy” and an average target price of $139.05.
Concho Resources Inc(NYSE:CXO) is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties.
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