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Concho Resources (CXO) Gets a Hold Rating from Morgan Stanley


Morgan Stanley analyst Drew Venker maintained a Hold rating on Concho Resources (NYSE: CXO) today and set a price target of $178. The company’s shares closed yesterday at $150.56.

According to TipRanks.com, Venker has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.1% and a 32.7% success rate. Venker covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Continental Resources, and Gulfport Energy Corp.

Concho Resources has an analyst consensus of Strong Buy, with a price target consensus of $188.50.

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The company has a one-year high of $163.11 and a one-year low of $123.63. Currently, Concho Resources has an average volume of 2.13M.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock.

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Concho Resources, Inc. engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include New Mexico Shelf, Delaware Basin, Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.