X
<

Which Would You Bet On: Concho, the Permian—or Both?

PART:
1 2 3
Part 3
Which Would You Bet On: Concho, the Permian—or Both? PART 3 OF 3

Analysts’ Recommendations for CXO after Its Permian Acquisition

Consensus recommendations for Concho

About 73.5% of Wall Street analysts rate Concho Resources (CXO) a “buy,” while ~20.5% rate it a “hold,” and ~6% rate it a “sell.” The average broker target price of $155.67 for Concho Resources implies a return of around 16% in the next 12 months.

The table below shows the specific analysts’ forecasts for Concho Resources following its Permian acquisition announcement.

Analysts&#8217; Recommendations for CXO after Its Permian Acquisition

Upstream peers Sanchez Energy (SN), Cimarex Energy (XEC), and Newfield Exploration (NFX) have average broker target prices of $8.97, $151.10, and $52.23, respectively. These figures imply returns of approximately ~16%, 18%, and 27%, respectively, in the next 12 months.

Analysts’ high and low target prices for CXO are $192.00 and $124, respectively.

Notably, Concho Resources is a component of the Guggenheim S&P 500 Equal Weight Energy ETF (RYE). RYE invests ~3% of its portfolio in the company.

Interested in CXO? Receive notifications on the latest research and sign up for a Market Realist account in one simple step:

Suceess! Your Market Realist account has been created and you’ll receive email alerts on the latest research. Check your email for your temporary account password.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Click here to manage subscriptions.

X

Please select a profession that best describes you: