[Business Wire] Concho Resources Inc (NYSE:CXO) (TREND ANALYSIS) announced that the Company will participate in the Tuohy Brothers’ 6th Annual Energy Conference on Monday, August 10, 2015, and the Barclays CEO Energy-Power Conference on Wednesday, September 9, 2015.
The Company will refer to its Investor Presentation, which will be available in advance of the first conference on the Investor Relations section of the Company’s website, www.concho.com. Additionally, the presentation for the Barclays CEO Energy-Power Conference will be webcast and accessible from the Company’s website on the date of the event.
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Concho Resources Inc (NYSE:CXO) stock is currently trading 23.15% below its 52-week-high, 42.41% above its 52-week-low. The 1-year stock price history is in the range of $77.22 – $143.1. Concho Resources Inc (CXO) has a price to earnings ratio of 39.61 versus Basic Materials sector average of 17.07. CXO stock price has outperformed the S&P 500 by 8.6%. The Oil Exploration & Production company is currently valued at $13.09 billion and its share price closed the last trading session at $109.97. The stock has a 50-day moving average of $108.2 and a 200-day moving average of $115.06.
Concho Resources Inc (CXO) current short interest stands at 5.05 million shares. It has decreased by 20% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.69 million shares, the number of days required to cover the short positions stand at 3 days.
CXO reported last quarter earnings on July 29. The Oil Exploration & Production company announced earnings per share of $0.38 against a consensus Street estimate of $0.26, beating the average estimate by $0.12. This corresponds to a decrease of $0.69 compared to the same quarter of the previous fiscal year.
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There are currently thirty-one analysts that cover Concho Resources Inc stock. Of those thirty-one, twenty-six have a Buy rating, five have a Hold rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $137.03.
A recent analyst activity consisted of Global Hunter downgrading their Buy rating to Neutral on August 13. Global Hunter decreased price target from $125 to $120. This corresponds to a 9.12% upside from the last closing price. On the date of report, the stock closed at $109.97.
Credit Suisse upgraded their Neutral rating to Outperform on July 22. On the date of report, the stock closed at $105.41.
Another research firm was KeyBanc who reiterated their Overweight stance on July 14. KeyBanc decreased price target from $145 to $135. This translates to a 22.76% upside from the last closing price. On the date of report, the stock closed at $111.25.
Concho Resources Inc. acquires, develops and explores for oil and natural gas properties in the Permian Basin area of Southeast New Mexico and West Texas.