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A report released today by Seaport Global Securities about Concho Resources (US:CXO) drops the target price to $100.00

Yesterday Concho Resources (US:CXO) traded 3.17% higher at $114.79. The company’s 50-day moving average is $116.28 and its 200-day moving average is $124.17. The last stock close price is down -3.94% from the 200-day moving average, compared to the S&P 500 which has increased 0.04% over the same time. 1,005,345 shares of the stock were exchanged, down from an average trading volume of 1,309,960

Stating a potential downside of -0.13%, Seaport Global Securities dropped the price target of Concho Resources (US:CXO) to $100.00

See Chart Below

Concho Resources (US:CXO)

Concho Resources has a 52 week low of $106.73 and a 52 week high of $147.55 with a P/E ratio of 27.68 The company’s market cap is currently $0.

In addition to Seaport Global Securities reporting its target price, a total of 36 firms have reported on the stock. The consensus target price is $129.19 with 9 firms rating the stock a strong buy, 18 firms rating the stock a buy, 9 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.

About Concho Resources (US:CXO)

Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company's four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf. As of December 31, 2016, the Company's operations 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. The Permian Basin is an oil and natural gas producing region in the United States and is characterized by multiple producing horizons and enhanced recovery potential. As of December 31, 2016, the Company produced approximately 55.1 million barrels of oil equivalent (MMBoe) of oil and natural gas. As of December 31, 2016, all of its 720 MMBoe total estimated proved reserves were located in its core operating areas and consisted of approximately 59.5% oil and 40.5% natural gas.

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