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What Does Wall Street Predict for CXO, PXD, MRO, and CLR?

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Analysts’ recommendations

In the previous sections of this series, we analyzed our select group of upstream companies’ production, debt, and cash flows. In this article, we will look at Wall Street analysts’ recommendations for these stocks.

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Individual recommendations

83% of analysts tracking Concho Resources (CXO) surveyed by Bloomberg have recommended a “buy” or equivalent, while ~14% have recommended a “hold.” The have a “sell” recommendation. Analysts’ consensus target price for Concho Resources is ~$137, implying a 26.8% return over the next 12 months. This is the lowest among our comparative set of upstream energy companies analyzed in this series.

Approximately 74% of analysts tracking Pioneer Natural Resources (PXD) surveyed have recommended a “buy” or equivalent, while ~18% have recommended a “hold,” and the rest recommend a “sell.” Analysts’ consensus target price for PXD is ~$168, implying a 37% return over next 12 months. Pioneer Natural Resources is 0.11% of the SPDR S&P 500 ETF Trust (SPY).

Approximately 58% of analysts tracking Marathon Oil (MRO) surveyed have recommended a “buy” or equivalent, while ~39% have recommended “hold.” About 4% of the analysts have recommended a “sell” for this stock. Analysts’ consensus target price for MRO is ~$27, implying a 64.2% return over the next 12 months, which is the highest among our comparative set analyzed in this series.

Approximately 52% of analysts tracking Continental Resources (CLR) surveyed have recommended a “buy” or equivalent, while ~45% have recommended a “hold,” and the rest recommend a “sell.” Analysts’ consensus target price for CLR is ~$46, implying a 47% return over the next 12 months.

Read Market Realist’s Energy & Power page for more market analyses.

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