Concho Resources (CXO) Receives a Buy from KeyBanc


KeyBanc analyst Leo Mariani maintained a Buy rating on Concho Resources (CXO) today and set a price target of $95.00. The company’s shares closed last Monday at $65.82, close to its 52-week low of $61.37.

According to TipRanks.com, Mariani ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.7% and a 29.9% success rate. Mariani covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Jagged Peak Energy Inc, and Whiting Petroleum Corp.

Currently, the analyst consensus on Concho Resources is a Moderate Buy with an average price target of $114.78.

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The company has a one-year high of $153.38 and a one-year low of $61.37. Currently, Concho Resources has an average volume of 2.73M.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CXO in relation to earlier this year.

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 Delaware Basin, and Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.

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