Canaccord Genuity Reaffirms Buy Rating on Concho Resources (CXO)

By admin | 6 years ago

Concho Resources (NYSE: CXO)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a report issued on Tuesday.

Shares of Concho Resources traded up 1.44% during mid-day trading on Tuesday, hitting $90.90. Concho Resources has a one year low of $63.20 and a one year high of $116.82. The company has a market cap of $9.366 billion and a P/E ratio of 17.37.

Concho Resources last issued its quarterly earnings data on Wednesday, May 2nd. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by $0.11. The company’s revenue for the quarter was up 40.7% on a year-over-year basis. On average, analysts predict that Concho Resources will post $1.22 earnings per share next quarter.

Other equities research analysts have also recently issued reports about the stock. Analysts at Wunderlich reiterated a “buy” rating on shares of Concho Resources in a research note to investors on Monday. They now have a $130.00 price target on the stock. Separately, analysts at Societe Generale initiated coverage on shares of Concho Resources in a research note to investors on Monday, April 23rd. They set a “buy” rating on the stock. Finally, analysts at Deutsche Bank (NYSE: DB) upgraded shares of Concho Resources from a “hold” rating to a “buy” rating in a research note to investors on Monday, April 2nd. They now have a $131.00 price target on the stock, up previously from $113.00.

Concho Resources Inc. (Concho) 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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