Analysts Offer Insights on Materials Companies: TransMontaigne (NYSE: TLP), Parker Drilling Company (NYSE: PKD) and Concho Resources (NYSE: CXO)

By Ryan Adsit

Companies in the Materials sector have received a lot of coverage today as analysts weigh in on TransMontaigne (NYSE: TLP), Parker Drilling Company (NYSE: PKD) and Concho Resources (NYSE: CXO).

TransMontaigne (NYSE: TLP)

D.A. Davidson analyst Poe Fratt reiterated a Hold rating on TransMontaigne (NYSE: TLP) today. The company’s shares opened today at $38.49.

According to TipRanks.com, Fratt is a 3-star analyst with an average return of 2.8% and a 56.0% success rate. Fratt covers the Basic Materials sector, focusing on stocks such as Blueknight Energy Partners L.P., Calumet Specialty Products, and Antero Midstream Partners.

TransMontaigne has an analyst consensus of Moderate Buy.

Parker Drilling Company (NYSE: PKD)

D.A. Davidson analyst Sonny Randhawa reiterated a Buy rating on Parker Drilling Company (NYSE: PKD) today and set a price target of $3.50. The company’s shares opened today at $1.80.

According to TipRanks.com, Randhawa is a top 100 analyst with an average return of 42.6% and a 66.7% success rate. Randhawa covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Precision Drilling, and US Silica Holdings.

Currently, the analyst consensus on Parker Drilling Company is Strong Buy and the average price target is $3.75, representing a 108.3% upside.

In a report issued on November 7, Nomura Holdings also reiterated a Buy rating on the stock with a $4 price target.
Concho Resources (NYSE: CXO)

In a report released yesterday, Jason Smith from Merrill Lynch reiterated a Buy rating on Concho Resources (NYSE: CXO), with a price target of $151. The company’s shares opened today at $133.34, close to its 52-week high of $143.60.

According to TipRanks.com, Smith is a 1-star analyst with an average return of -5.7% and a 52.9% success rate. Smith covers the Basic Materials sector, focusing on stocks such as Calumet Specialty Products, Whiting Petroleum Corp., and Rosetta Resources Inc.

Concho Resources has an analyst consensus of Moderate Buy, with a price target consensus of $130.