Deutsche Bank Gives Buy Rating to Concho Resources (CXO)

By admin | 6 years ago

Concho Resources (NYSE: CXO)‘s stock had its “buy” rating reaffirmed by research analysts at Deutsche Bank (NYSE: DB) in a report released on Tuesday.

Concho Resources opened at 89.61 on Tuesday. Concho Resources has a 1-year low of $63.20 and a 1-year high of $116.82. The company has a market cap of $9.233 billion and a price-to-earnings ratio of 17.37.

Concho Resources last issued its quarterly earnings data on Wednesday, May 2nd. The company reported $1.05 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.16 by $0.11. The company’s quarterly revenue 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.

A number of other analysts have also recently weighed in on CXO. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Concho Resources in a research note to investors on Tuesday. Separately, 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.

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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