What Analysts Recommend for Concho after Its 2Q16 Earnings

Approximately 74% of analysts rate Concho Resources (CXO) a “buy,” and 20% rate it a “hold.” The remaining ~6% rate it a “sell.” The average broker target price of $136.77 for CXO implies a return of ~8.5% in the next 12 months.

Upstream peers Anadarko Petroleum (APC) and Cimarex Energy (XEC) have implied returns of ~27% and 8.7%, respectively, in the next 12 months.

High, low, and median analyst target prices for Concho Resources are $180, $100, and $140, respectively. CXO is a component of the iShares Global Energy ETF (IXC). IXC invests 0.60% of its portfolio in the company.