2 Energy Stocks Hitting 52-Week Highs: Sempra, Concho

NEW YORK ( TheStreet) -- Shares of energy companies Sempra Energy ( SRE) and Concho ( CXO) reached 52-week highs on Tuesday.

Both of them received buy ratings from TheStreet Ratings.

Sempra Energy

The energy services company is scheduled to report fourth-quarter results on Feb. 28. Analysts, on average, expects earnings of $1.06 a share on revenue of $2.58 billion.

"Although we think SRE's stock looks somewhat inexpensive, we continue to expect concerns about regulatory issues (pending general rate cases and upcoming cost of capital proceedings) to act as an overhang on SRE's stock," Wells Fargo analysts wrote in a Dec. 20 report. They rated the stock market perform at that time.

Of the 12 analysts who cover the company, eight rated it a hold. Three analysts considered Sempra a buy and one rated it a sell.

Shares of Sempra Energy hit a 52-week high of $58.71 on Tuesday. The stock's 52-week low of $44.78 was set on Aug. 9.

Sempra has an estimated price-to-earnings ratio for next year of 13.04. The average for multi-utilities is 14.65. Ameren ( AEE) has a forward P/E of 13.66.

TheStreet Ratings gives Sempra an A- grade with a $66.54 price target. The stock has risen 6.38% year to date.

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Concho Resources

The independent oil and natural gas company announced Monday its full-year 2011 estimated production, which increased 51% over the previous year to 23.6 million barrels of oil equivalent.

"About 61% of CXO's proved reserves were booked as proved developed versus 57% last year," Bank of America Merrill Lynch analysts wrote in a report Tuesday. "Most of the growth in proved reserves came from the Delaware Basin (125% growth y-o-y). Growth in the Texas Permian reserves was at 26% y-o-y."

Shares of Concho Resources hit a 52-week high Tuesday of $112.78. The stock's 52-week low of $27.44 was set on Oct. 4.

Concho has a forward P/E of 21.39. The average among exploration and production companies is 19.07. Chesapeake ( CHK) has a forward P/E of 10.71.

Of the 27 analysts who cover Concho, 17 rated the company a buy. Ten analysts considered Concho a hold.

TheStreet Ratings gives Concho an A- and $142.38 price target. The stock has risen 19.83% year to date.

-- Written by Alexandra Zendrian

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