Concho Resources (CXO) Gets a Buy Rating from Siebert Williams Shank & Co


In a report released today, Gabriele Sorbara from Siebert Williams Shank & Co reiterated a Buy rating on Concho Resources (CXO), with a price target of $78.00. The company’s shares closed last Monday at $38.97, close to its 52-week low of $34.20.

According to TipRanks.com, Sorbara is ranked 0 out of 5 stars with an average return of -28.7% and a 21.8% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Extraction Oil & Gas, Matador Resources, and Laredo Petroleum.

Concho Resources has an analyst consensus of Strong Buy, with a price target consensus of $86.44, an 113.3% upside from current levels. In a report issued on March 9, Merrill Lynch also maintained a Buy rating on the stock with a $71.00 price target.

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The company has a one-year high of $124.53 and a one-year low of $34.20. Currently, Concho Resources has an average volume of 2.4M.

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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.

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