Brokers bullish on Concho Resources Inc shares

The Concho Resources Inc (NYQ:CXO) share price has risen by 7.47% over the past month and it’s currently trading at 58. For investors considering whether to buy, hold or sell the stock, the question now is whether this price run will continue.

According to the company’s analysts, there are certainly reasons to think it will continue to perform well in the year ahead. In terms of trading recommendations, Concho Resources Inc currently has:

• 8 Buy recommendations

• 4 Hold recommendations

• 0 Sell recommendations

This suggests that analysts are generally positive about the outlook.

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Researching beyond analyst forecasts

At its current price of 58, shares in Concho Resources Inc are trading at a discount of -46.1% to its 52 week high price. The 1-year performance of the shares has been -42.2%.

While analyst forecasts can be a useful guide to what City 'experts' think about a stock's near term future, they can be unreliable. To get a better idea about the strengths and weaknesses of Concho Resources Inc it's worth doing some investigation yourself.

There are all sorts of factors that could affect Concho Resources Inc's share price this year – we simplify them into easy to understand scores with our Stockopedia StockReport. Click here to take a look at the StockReport for Concho Resources Inc – you might discover some surprising things you didn’t know.