Credit Suisse analyst William Featherston maintained a Buy rating on Concho Resources (CXO) on July 22. The company’s shares closed last Thursday at $50.75.
According to TipRanks.com, Featherston is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -5.6% and a 44.3% success rate. Featherston covers the Utilities sector, focusing on stocks such as Occidental Petroleum, Cabot Oil & Gas, and Pioneer Natural.
Concho Resources has an analyst consensus of Strong Buy, with a price target consensus of $72.65, which is a 38.6% upside from current levels. In a report issued on July 12, Barclays also maintained a Buy rating on the stock with a $79.00 price target.
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Based on Concho Resources’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $474 million and GAAP net loss of $435 million. In comparison, last year the company earned revenue of $1.13 billion and had a GAAP net loss of $97 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CXO in relation to earlier this year.
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Concho Resources, Inc. engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include Delaware Basin, and Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.
