In a report released today, Drew Venker from Morgan Stanley maintained a Hold rating on Concho Resources (CXO), with a price target of $169. The company’s shares opened today at $142.99.
According to TipRanks.com, Venker is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.3% and a 31.1% success rate. Venker covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Continental Resources, and Gulfport Energy Corp.
Currently, the analyst consensus on Concho Resources is a Moderate Buy with an average price target of $186.23, which is a 30.2% upside from current levels. In a report issued on October 31, Seaport Global also maintained a Hold rating on the stock with a $145 price target.
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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 1.76M.
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.
