In a report released today, John Freeman from Raymond James maintained a Buy rating on Concho Resources (CXO), with a price target of $90.00. The company’s shares closed last Monday at $64.77, close to its 52-week low of $61.37.
According to TipRanks.com, Freeman has 0 stars on 0-5 star ranking scale with an average return of -15.1% and a 25.3% success rate. Freeman covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp, Continental Resources, and Occidental Petroleum.
Currently, the analyst consensus on Concho Resources is a Moderate Buy with an average price target of $109.97, which is a 69.8% upside from current levels. In a report issued on October 15, KeyBanc also maintained a Buy rating on the stock with a $95.00 price target.
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The company has a one-year high of $150.45 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.
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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.
