Yahoo Finance Concho Resources: Most Analysts Say ‘Buy’ after 4Q15 Results
How Did Concho Resources React to Its Earnings Miss?
Analysts’ recommendations for Concho Resources
Following Concho Resources’ (CXO) 4Q15 earnings, Wall Street analysts updated their target prices for the company for the next 12 months.
Consensus rating for Concho Resources
Approximately 74% of analysts rated CXO a “buy,” 23% rated it a “hold,” and ~3% rated it a “sell.” The average broker target price of $111.34 for CXO implies a return of around 25% over the next 12 months.
Upstream peers Apache Corporation (APA), Devon Energy Corporation (DVN), and Hess Corporation (HES) have average broker target prices of $45.86, $34.56, and $55.48, respectively. These figures imply returns of ~21%, 77%, and ~34%, respectively, over the next 12 months.
The high, low, and median analyst target prices for Concho Resources 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
The most optimistic target price came from Raymond James, which gave CXO a target price of $145. This target implies returns of around 63% over the next 12 months.
RBC Capital Markets and Scotia Howard Weil also gave CXO optimistic target prices of $127 and $123, respectively. These targets imply returns of around 43% and 38% over the next 12 months.
Barclays (BCS) gave CXO a lower target price of $95, implying returns of around ~7% over the next 12 months.
One of the lowest targets came from Jefferies, which gave Concho Resources a target price of $88. This target implies a negative return of ~1% over the next year.
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