Concho Resources (CXO)

dan_s · Post by **dan_s** » Mon Jan 16, 2017 4:04 pm

I have updated my forecast model of Concho Resources and it will be posted to the EPG website later today.

I am raising my valuation by $25.00/share to $190.00. This compares to First Call's price target of $159.31.

Concho has over 18,000 low risk / high rate horizontal development drilling locations in the Permian Basin. They expect production growth to average ~20% YOY for the next several years. Production will be close to 200,000 BOE per day by the end of 2017 (~60% of production is crude oil).

CXO is one of our Elite Eight.