Susquehanna Reiterates a Buy Rating on Concho Resources (CXO)


Susquehanna analyst Biju Perincheril reiterated a Buy rating on Concho Resources (NYSE: CXO) yesterday and set a price target of $174. The company’s shares opened today at $140.63.

According to TipRanks.com, Perincheril is a 5-star analyst with an average return of 15.3% and a 65.1% success rate. Perincheril covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Whiting Petroleum Corp, and Continental Resources.

Concho Resources has an analyst consensus of Moderate Buy, with a price target consensus of $186.86, implying a 32.9% upside from current levels. In a report issued on July 18, Goldman Sachs also upgraded the stock to Buy with a $174 price target.

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The company has a one-year high of $163.11 and a one-year low of $106.73. Currently, Concho Resources has an average volume of 2.36M.

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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.

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