In a report released yesterday, Derrick Whitfield from Stifel Nicolaus reiterated a Buy rating on Concho Resources (NYSE: CXO), with a price target of $208. The company’s shares closed yesterday at $137.35.
According to TipRanks.com, Whitfield is a 2-star analyst with an average return of 0.4% and a 52.5% success rate. Whitfield covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Northern Oil And Gas, and Devon Energy Corp.
Concho Resources has an analyst consensus of Moderate Buy, with a price target consensus of $181.85.
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Based on Concho Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $945 million and net profit of $136 million. In comparison, last year the company earned revenue of $567 million and had a net profit of $151 million.
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.
