What analysts are targeting for Concho Resources
Let’s take a look at the high, low, average, and median analyst target prices for Concho Resources (CXO). CXO’s highest target price is $184. Its lowest target price is $134, and its average target price is ~$161.91.
On February 6, 2017, Concho Resources stock price was $141.58. Compared to its current level, the company’s average target price of $161.91 indicates a return of ~14.0% over the next 12 months.
Concho Resources makes up ~2.1% of the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).
CXO is a key player in the Permian Basin and has been increasing its focus there. The company has also been making use of efficient strategies to maintain balance sheet strength, which is a good way for the stock to ride out recoveries in oil prices.
To find out more, read Which Would You Bet On: Concho, the Permian—or Both?