Will New Ratings Coverage by Stephens Help Concho Resources (NYSE:CXO) Stock This Week?

Concho Resources Inc. (NYSE:CXO) Logo

Investors sentiment increased to 1.1 in 2018 Q2. Its up 0.12, from 0.98 in 2018Q1. It is positive, as 48 investors sold Concho Resources Inc. shares while 144 reduced holdings. 65 funds opened positions while 146 raised stakes. 153.79 million shares or 7.26% more from 143.38 million shares in 2018Q1 were reported.

Piedmont Invest Ltd Liability Corporation owns 0.01% invested in Concho Resources Inc. (NYSE:CXO) for 1,746 shares. Millennium Ltd Liability Co accumulated 0.22% or 1.20 million shares. Manufacturers Life Insurance The holds 0.03% or 171,694 shares. Df Dent & Co holds 9,949 shares or 0.03% of its portfolio. Ameriprise stated it has 263,692 shares or 0.02% of all its holdings. Voya Inv Lc stated it has 1.20 million shares or 0.35% of all its holdings. Ranger Investment Mngmt Lp holds 350 shares. State Of Alaska Department Of Revenue owns 30,976 shares. Sumitomo Mitsui Trust Holding Incorporated reported 0.07% in Concho Resources Inc. (NYSE:CXO). Covington Management holds 134 shares or 0% of its portfolio. Macquarie Group Incorporated Limited owns 2,000 shares for 0% of their portfolio. Williams Jones & Assocs Limited Liability holds 0.02% of its portfolio in Concho Resources Inc. (NYSE:CXO) for 5,896 shares. Amundi Pioneer Asset Mngmt holds 0.02% or 89,246 shares in its portfolio. Ckw Fin Gru holds 0.01% in Concho Resources Inc. (NYSE:CXO) or 300 shares. Nuveen Asset Mngmt Lc invested in 9,892 shares or 0.01% of the stock.

Since July 19, 2018, it had 0 insider buys, and 4 sales for $2.88 million activity. $506,934 worth of Concho Resources Inc. (NYSE:CXO) was sold by Burleson Gayle on Wednesday, September 12. BEAL STEVEN L sold $343,100 worth of Concho Resources Inc. (NYSE:CXO) on Thursday, July 19. 4,000 shares were sold by Moncrief Lee Price, worth $559,451.

Why Has Stephens Given Concho Resources (NYSE:CXO) a $185 Price Target

In a report revealed to investors and clients on Thursday morning, Stephens analyst has today has begun coverage for Concho Resources (NYSE:CXO) shares with a “Equal-Weight” rating. The target price per share is exactly $185.

Concho Resources Inc. (NYSE:CXO) Ratings Coverage

Among 14 analysts covering Concho Resources (NYSE:CXO), 11 have Buy rating, 0 Sell and 3 Hold. Therefore 79% are positive. Concho Resources has $23000 highest and $150 lowest target. $178.58’s average target is 47.81% above currents $120.82 stock price. Concho Resources had 22 analyst reports since June 7, 2018 according to SRatingsIntel. The firm has “Buy” rating given on Tuesday, November 27 by SunTrust. The stock of Concho Resources Inc. (NYSE:CXO) earned “Equal-Weight” rating by Morgan Stanley on Monday, November 5. The firm earned “Overweight” rating on Friday, September 28 by PiperJaffray. KLR Group upgraded it to “Buy” rating and $178 target in Tuesday, July 24 report. The rating was maintained by Morgan Stanley with “Equal-Weight” on Friday, October 12. The firm has “Outperform” rating given on Wednesday, October 24 by Wells Fargo. On Thursday, August 16 the stock rating was maintained by Morgan Stanley with “Equal-Weight”. Barclays Capital maintained Concho Resources Inc. (NYSE:CXO) on Thursday, November 15 with “Equal-Weight” rating. Stifel Nicolaus maintained Concho Resources Inc. (NYSE:CXO) rating on Sunday, November 25. Stifel Nicolaus has “Buy” rating and $23000 target. The firm has “Hold” rating given on Thursday, June 7 by Bernstein.

The stock decreased 5.91% or $7.59 during the last trading session, reaching $120.82. About 3.13M shares traded or 72.13% up from the average. Concho Resources Inc. (NYSE:CXO) has risen 21.27% since December 7, 2017 and is uptrending. It has outperformed by 5.65% the S&P500.

Analysts await Concho Resources Inc. (NYSE:CXO) to report earnings on February, 19. They expect $1.30 earnings per share, up 96.97 % or $0.64 from last year’s $0.66 per share. CXO’s profit will be $258.54 million for 23.23 P/E if the $1.30 EPS becomes a reality. After $1.42 actual earnings per share reported by Concho Resources Inc. for the previous quarter, Wall Street now forecasts -8.45 % negative EPS growth.

Concho Resources Inc., an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil and natural gas properties in the United States. The company has market cap of $24.03 billion. The companyÂ’s principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. It has a 18.57 P/E ratio. As of December 31, 2016, its total estimated proved reserves were 720.0 million barrels of oil equivalent.

More important recent Concho Resources Inc. (NYSE:CXO) news were published by: Fool.com which released: “Oil Stocks: The Shale Merger Wave Continues to Strengthen – Motley Fool” on November 19, 2018, also Gurufocus.com published article titled: “Dec 06, 2018 – World Capital Markets Plunge Thursday – GuruFocus.com”, Benzinga.com published: “The Election’s Impact On Energy, Fracking – Benzinga” on November 08, 2018. More interesting news about Concho Resources Inc. (NYSE:CXO) was released by: Globenewswire.com and their article: “Recent Analysis Shows HudBay Minerals, Meridian Bioscience, ArQule, Mesoblast, Concho Resources, and Liberty Global Market Influences — Renewed Outlook, Key Drivers of Growth – GlobeNewswire” with publication date: November 29, 2018.

Concho Resources Inc. (NYSE:CXO) Institutional Positions Chart

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