Jefferies analyst Mark Lear reiterated a Buy rating on Concho Resources (CXO) today and set a price target of $190. The company’s shares closed yesterday at $117.26.
According to TipRanks.com, Lear has 0 stars on 0-5 star ranking scale with an average return of -11.3% and a 27.1% success rate. Lear covers the Basic Materials sector, focusing on stocks such as Jagged Peak Energy Inc, Whiting Petroleum Corp, and Continental Resources.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Concho Resources with a $167.26 average price target, implying a 42.6% upside from current levels. In a report issued on January 16, Barclays also upgraded the stock to Buy with a $162 price target.
See today’s analyst top recommended stocks >>
Based on Concho Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.19 billion and GAAP net loss of $199 million. In comparison, last year the company earned revenue of $780 million and had a net profit of $265 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
