5.84 % to Target, Barclays Capital Maintains ‘Overweight’ Rating on Concho Resources Inc (NYSE:CXO) Shares Today

October 12, 2017 - By Hazel Jackson

 5.84 % to Target, Barclays Capital Maintains ‘Overweight’ Rating on Concho Resources Inc (NYSE:CXO) Shares Today

Investors sentiment decreased to 1.03 in Q2 2017. Its down 0.04, from 1.07 in 2017Q1. It dived, as 48 investors sold Concho Resources Inc shares while 147 reduced holdings. 51 funds opened positions while 150 raised stakes. 135.90 million shares or 0.58% less from 136.69 million shares in 2017Q1 were reported.

Adams Natural Resources Fund Inc, Maryland-based fund reported 89,100 shares. Ubs Oconnor Limited Liability Com has 12,100 shares. Toronto Dominion Bancshares holds 0.02% or 50,192 shares. Cleararc Cap Inc reported 3,627 shares. Meiji Yasuda Asset Mgmt Com stated it has 0.05% of its portfolio in Concho Resources Inc (NYSE:CXO). Next Gp Inc invested in 0% or 75 shares. Raymond James And Assocs has invested 0.02% in Concho Resources Inc (NYSE:CXO). Massachusetts-based Wellington Mngmt Grp Llp has invested 0.07% in Concho Resources Inc (NYSE:CXO). Zurcher Kantonalbank (Zurich Cantonalbank) holds 0.04% in Concho Resources Inc (NYSE:CXO) or 31,130 shares. Carmignac Gestion holds 2.47 million shares. Ami Asset Management Corp invested 0.93% of its portfolio in Concho Resources Inc (NYSE:CXO). Capital Research Glob Invsts holds 12.63 million shares. Los Angeles Cap Mgmt & Equity has invested 0.01% of its portfolio in Concho Resources Inc (NYSE:CXO). First Citizens National Bank And, a North Carolina-based fund reported 1,834 shares. Rampart Inv Ltd holds 0.07% in Concho Resources Inc (NYSE:CXO) or 1,671 shares.

Concho Resources Inc (NYSE:CXO) Rating Reaffirmed

In a research report issued to clients this morning, Barclays Capital reconfirmed their Overweight rating on Concho Resources Inc (NYSE:CXO) shares. The price target means a possible upside of 5.84 % from firm’s last stock close.

Investors sentiment decreased to 1.03 in Q2 2017. Its down 0.04, from 1.07 in 2017Q1. It dived, as 48 investors sold Concho Resources Inc shares while 147 reduced holdings. 51 funds opened positions while 150 raised stakes. 135.90 million shares or 0.58% less from 136.69 million shares in 2017Q1 were reported.

Adams Natural Resources Fund Inc, Maryland-based fund reported 89,100 shares. Ubs Oconnor Limited Liability Com has 12,100 shares. Toronto Dominion Bancshares holds 0.02% or 50,192 shares. Cleararc Cap Inc reported 3,627 shares. Meiji Yasuda Asset Mgmt Com stated it has 0.05% of its portfolio in Concho Resources Inc (NYSE:CXO). Next Gp Inc invested in 0% or 75 shares. Raymond James And Assocs has invested 0.02% in Concho Resources Inc (NYSE:CXO). Massachusetts-based Wellington Mngmt Grp Llp has invested 0.07% in Concho Resources Inc (NYSE:CXO). Zurcher Kantonalbank (Zurich Cantonalbank) holds 0.04% in Concho Resources Inc (NYSE:CXO) or 31,130 shares. Carmignac Gestion holds 2.47 million shares. Ami Asset Management Corp invested 0.93% of its portfolio in Concho Resources Inc (NYSE:CXO). Capital Research Glob Invsts holds 12.63 million shares. Los Angeles Cap Mgmt & Equity has invested 0.01% of its portfolio in Concho Resources Inc (NYSE:CXO). First Citizens National Bank And, a North Carolina-based fund reported 1,834 shares. Rampart Inv Ltd holds 0.07% in Concho Resources Inc (NYSE:CXO) or 1,671 shares.

Concho Resources Inc (NYSE:CXO) Ratings Coverage

Among 24 analysts covering Concho Resources Inc. (NYSE:CXO), 16 have Buy rating, 0 Sell and 8 Hold. Therefore 67% are positive. Concho Resources Inc. has $206 highest and $100 lowest target. $143.46’s average target is 7.36% above currents $133.63 stock price. Concho Resources Inc. had 83 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was maintained by Citigroup on Monday, September 14 with “Buy”. On Tuesday, August 8 the stock rating was maintained by Barclays Capital with “Overweight”. The company was downgraded on Thursday, April 13 by Stifel Nicolaus. RBC Capital Markets maintained the stock with “Buy” rating in Monday, May 15 report. The firm has “Buy” rating given on Thursday, July 20 by RBC Capital Markets. The firm has “Outperform” rating by Credit Suisse given on Wednesday, July 22. The rating was maintained by Stifel Nicolaus on Thursday, October 5 with “Buy”. The rating was maintained by BMO Capital Markets with “Buy” on Saturday, September 23. The firm has “Buy” rating given on Thursday, September 3 by SunTrust. The rating was maintained by Jefferies on Tuesday, August 29 with “Hold”.

About 313,738 shares traded. Concho Resources Inc (NYSE:CXO) has risen 13.53% since October 12, 2016 and is uptrending. It has underperformed by 3.17% the S&P500.

Wall Street await Concho Resources Inc (NYSE:CXO) to release earnings on October, 31 after the close. Analysts forecast EPS of $0.28, down exactly $0.04 or 12.50 % from 2014’s $0.32 EPS. The expected CXO’s profit could reach $42.18M giving the stock 119.31 P/E in the case that $0.28 earnings per share is reported. After posting $0.52 EPS for the previous quarter, Concho Resources Inc’s analysts now forecast -46.15 % negative EPS growth.

Concho Resources Inc. is an independent oil and natural gas firm engaged in the acquisition, development and exploration of oil and natural gas properties. The company has market cap of $20.13 billion. The Company’s four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf. It has a 31.88 P/E ratio. As of December 31, 2016, the Company’s activities were focused in the Permian Basin, which underlies an area of Southeast New Mexico and West Texas approximately 250 miles wide and 300 miles long.

More recent Concho Resources Inc (NYSE:CXO) news were published by: Businesswire.com which released: “Concho Resources Inc. Announces Cash Tender Offer for Any and All of Its …” on September 13, 2017. Also Zacks.com published the news titled: “Why Concho Resources (CXO) Stock Might be a Great Pick October 12, 2017” on October 11, 2017. Nasdaq.com‘s news article titled: “Concho Resources (CXO) Shares Cross Above 200 DMA” with publication date: September 25, 2017 was also an interesting one.

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