In a report issued on November 2, Mark Lear from Jefferies reiterated a Buy rating on Concho Resources (CXO), with a price target of $205. The company’s shares closed yesterday at $141.96.
According to TipRanks.com, Lear has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.2% and a 31.1% success rate. Lear covers the Basic Materials sector, focusing on stocks such as Range Resources Corp, Oasis Petroleum Inc, and Anadarko Petroleum.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Concho Resources with a $185.54 average price target, implying a 30.7% upside from current levels. In a report issued on October 22, Stifel Nicolaus also reiterated a Buy rating on the stock with a $197 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 1.83M.
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.
