After Seaport Global and Williams Capital gave Concho Resources (NYSE: CXO) a Buy rating last month, the company received another Buy, this time from BMO Capital. Analyst Phillip Jungwirth reiterated a Buy rating on Concho Resources today and set a price target of $175. The company’s shares opened today at $112.30.
According to TipRanks.com, Jungwirth is a 1-star analyst with an average return of -3.3% and a 40.5% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Whiting Petroleum Corp, and Continental Resources.
Concho Resources has an analyst consensus of Strong Buy, with a price target consensus of $172.89, representing a 54.0% upside. In a report issued on January 2, KeyBanc also initiated coverage with a Buy rating on the stock with a $118 price target.
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Concho Resources’ market cap is currently $22.45B and has a P/E ratio of 15.50. The company has a Price to Book ratio of 1.30.
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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.
