Concho Resources (NYSE: CXO) received a Buy rating and a $178 price target from Williams Capital analyst Gabriele Sorbara today. The company’s shares closed on Friday at $125.74.
According to TipRanks.com, Sorbara is a 3-star analyst with an average return of 1.4% and a 51.0% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.
Concho Resources has an analyst consensus of Strong Buy, with a price target consensus of $181.69.
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Based on Concho Resources’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $947 million and net profit of $829 million. In comparison, last year the company earned revenue of $612 million and had a net profit of $645 million.
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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.
