In a report issued on July 29, John Freeman from Raymond James maintained a Buy rating on Concho Resources (CXO). The company’s shares closed last Wednesday at $52.39.
According to TipRanks.com, Freeman has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -20.1% and a 25.6% success rate. Freeman covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Occidental Petroleum, and Black Stone Minerals.
Currently, the analyst consensus on Concho Resources is a Strong Buy with an average price target of $72.56, representing a 38.3% upside. In a report issued on July 14, Cowen & Co. also maintained a Buy rating on the stock with a $65.00 price target.
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The company has a one-year high of $93.34 and a one-year low of $33.13. Currently, Concho Resources has an average volume of 2.45M.
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.
