Williams Capital Thinks Concho Resources’ Stock is Going to Recover
Williams Capital analyst Gabriele Sorbara maintained a Buy rating on Concho Resources (CXO) today and set a price target of $182. The company’s shares closed yesterday at $121.85, close to its 52-week low of $117.74.
According to TipRanks.com, Sorbara is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.0% and a 35.4% 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 Moderate Buy, with a price target consensus of $185.80, representing a 52.5% upside. In a report issued on December 7, J.P. Morgan also maintained a Buy rating on the stock with a $158 price target.
See today’s analyst top recommended stocks >>
Concho Resources’ market cap is currently $24.4B and has a P/E ratio of 16.85. The company has a Price to Book ratio of 1.42.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock.
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.