Piper Jaffray analyst Kashy Harrison reiterated a Buy rating on Concho Resources (NYSE: CXO) on August 27 and set a price target of $211. The company’s shares closed yesterday at $137.35.
According to TipRanks.com, Harrison is a 3-star analyst with an average return of 4.1% and a 50.0% success rate. Harrison covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Continental Resources, and Anadarko Petroleum.
Currently, the analyst consensus on Concho Resources is a Moderate Buy with an average price target of $181.85, which is a 32.4% upside from current levels. In a report released yesterday, Stifel Nicolaus also reiterated a Buy rating on the stock with a $208 price target.
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Concho Resources’ market cap is currently $20.52B and has a P/E ratio of 18.28. The company has a Price to Book ratio of 2.07.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral 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.
