Equities researchers at Imperial Capital began coverage on shares of Concho Resources (NYSE: CXO)
Concho Resources traded down 0.51% on Wednesday, hitting $87.01. Concho Resources has a 52-week low of $76.17 and a 52-week high of $116.82. The stock?s 50-day moving average is currently $81.9. The company has a market cap of $9.004 billion and a price-to-earnings ratio of 33.27.
Concho Resources last issued its quarterly earnings data on Wednesday, November 7th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by $0.08. The company had revenue of $497.55 million for the quarter, compared to the consensus estimate of $509.68 million. During the same quarter in 2012, the company posted $1.14 earnings per share. The company?s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts predict that Concho Resources will post $3.86 earnings per share for the current fiscal year.
CXO has been the subject of a number of other recent research reports. Analysts at Macquarie downgraded shares of Concho Resources from an ?outperform? rating to a ?neutral? rating in a research note to investors on Monday, January 7th. They now have a $93.00 price target on the stock, down previously from $100.00. Separately, analysts at RBC Capital reiterated a ?top pick? rating on shares of Concho Resources in a research note to investors on Saturday, December 22nd. They now have a $120.00 price target on the stock. Finally, analysts at Credit Agricole initiated coverage on shares of Concho Resources in a research note to investors on Friday, December 14th. They set an ?outperform? rating and a $96.00 price target on the stock. Nineteen research analysts have rated the stock with a buy rating, six have given an overweight rating, four have assigned a hold rating, and one has assigned a sell rating to the stock. The company has a consensus rating of ?overweight? and an average target price of $107.79.
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.