Concho Resources Gets a Buy Rating from RBC Capital

By Ryan Adsit

RBC Capital analyst Scott Hanold reiterated a Buy rating on Concho Resources (NYSE: CXO) on July 9 and set a price target of $200. The company’s shares closed yesterday at $145.55.

According to, Hanold is a 4-star analyst with an average return of 4.2% and a 49.3% success rate. Hanold covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Contango Oil & Gas Company, and Continental Resources.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Concho Resources with a $179.23 average price target.

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The company has a one-year high of $163.11 and a one-year low of $106.73. Currently, Concho Resources has an average volume of 2.11M.

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Concho Resources, Inc. engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include New Mexico Shelf, Delaware Basin, Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.