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What Do Analysts Recommend for Concho Resources before Earnings?

What Are the Expectations for Concho Resources' 4Q15 Earnings?

(Continued from Prior Part)

Analysts’ recommendations for Concho Resources

In the weeks leading up to Concho Resources’ (CXO) earnings release for the fourth quarter of 2015, Wall Street analysts provided target prices for the next 12 months.

Consensus rating for Concho Resources

Approximately 74% of analysts rate CXO a “buy,” ~23% rate it a “hold,” and ~3% rate it a “sell.” The average broker target price of $111.34 for CXO implies a return of around ~26% in the next 12 months. Among CXO’s upstream peers, Apache Corporation (APA), Devon Energy Corporation (DVN), and Hess Corporation (HES) have average broker target prices of $45.93, $41.22, and $55.48, respectively. These figures imply returns of ~23%, 94%, and ~36%, respectively, in the next 12 months.

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High, low, and median target prices for CXO are $145, $83, and $111, respectively. Concho Resources is a component of the Vanguard Energy ETF (VDE). VDE invests ~1% of its portfolio in the company.

Analysts’ target prices for CXO

Raymond James has given CXO the most optimistic target price at $145. This implies a return of around 65% in the next 12 months. RBC Capital Markets and Capital One Securities have also given optimistic target prices of $127 and $121, respectively. These imply returns of around 44% and 37%, respectively, in the next 12 months.

Evercore ISI has given CXO a lower price target of $93, implying a return of ~6% in the next 12 months. Jefferies has given CXO one of the lowest target prices at $88, implying a fall of ~0.2% over the next year.

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