Siebert Williams Shank & Co Maintains Their Buy Rating on Concho Resources (CXO)

By Austin Angelo

Siebert Williams Shank & Co analyst Gabriele Sorbara maintained a Buy rating on Concho Resources (CXOResearch Report) on December 3 and set a price target of $78.00. The company’s shares closed last Tuesday at $69.19.

According to TipRanks.com, Sorbara is ranked 0 out of 5 stars with an average return of -14.7% and a 30.6% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Continental Resources, Matador Resources, and Laredo Petroleum.

Concho Resources has an analyst consensus of Moderate Buy, with a price target consensus of $64.11, which is a -4.5% downside from current levels. In a report issued on December 17, RBC Capital also maintained a Buy rating on the stock with a $80.00 price target.

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The company has a one-year high of $91.06 and a one-year low of $33.13. Currently, Concho Resources has an average volume of 2.75M.

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