Concho Resources (NYSE: CXO) Upgraded by Citigroup to Hold
Friday, May 06, 2022 1:00 PM

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Citigroup upgraded Concho Resources (NYSE: CXO) to hold from sell following the company's Q1 results. The bank kept a $95 price target for Concho shares.

Net income was $42.6 million, or $0.42 per diluted share, for the first quarter of 2011, as compared with net income of $67.5 million, or $0.75 per diluted share, in the first quarter of 2010. Adjusted net income (non-GAAP) was $81.3 million, or $0.79 per diluted share, for the first quarter of 2011, as compared with $52.9 million, or $0.59 per diluted share, for the first quarter of 2010.

Shares last traded at $94, down 3.62 percent on Thursday. CXO has a 52-week low of $44.30 and a 52-week high of $110.89. The company has a total market cap of $11.01 billion. The price to earnings ratio of the company is 38.85, and the PEG ratio is 0.42.

Concho Resources Inc. engages in the acquisition, development, and exploration of oil and natural gas properties. Its principal operating areas are located in the Permian Basin of Southeast New Mexico and West Texas. The company is headquartered in Midland, Texas.
 

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