Equities research analysts expect that Concho Resources Inc (NYSE:CXO) will report $0.42 earnings per share (EPS) for the current quarter, Zacks reports. Eight analysts have issued estimates for Concho Resources’ earnings. The highest EPS estimate is $0.55 and the lowest is $0.29. Concho Resources reported earnings of $0.20 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 110%. The firm is expected to issue its next earnings results after the market closes on Tuesday, February 20th.
According to Zacks, analysts expect that Concho Resources will report full-year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.58 to $2.00. For the next financial year, analysts forecast that the business will post earnings of $2.68 per share, with EPS estimates ranging from $1.86 to $3.89. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Concho Resources.
Concho Resources (NYSE:CXO) last announced its quarterly earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.19. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The firm had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $614.12 million. During the same period in the previous year, the company earned $0.32 earnings per share. Concho Resources’s quarterly revenue was up 45.8% compared to the same quarter last year.
A number of research analysts have commented on the stock. Barclays lifted their price objective on shares of Concho Resources from $124.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Bank of America upgraded shares of Concho Resources from a “neutral” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Thursday, January 4th. Cowen restated a “hold” rating and issued a $145.00 price objective on shares of Concho Resources in a research note on Sunday, October 22nd. Royal Bank of Canada set a $167.00 price objective on shares of Concho Resources and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Zacks Investment Research upgraded shares of Concho Resources from a “hold” rating to a “buy” rating and set a $149.00 price objective on the stock in a research note on Monday, October 16th. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $158.47.
Shares of Concho Resources (NYSE CXO) traded down $0.23 on Tuesday, reaching $156.19. 1,080,000 shares of the company were exchanged, compared to its average volume of 1,020,000. Concho Resources has a 52-week low of $106.73 and a 52-week high of $160.37. The stock has a market capitalization of $23,220.00, a PE ratio of 41.10 and a beta of 1.08. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32.
In other news, Director Ray M. Poage sold 4,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $150.87, for a total transaction of $603,480.00. Following the transaction, the director now directly owns 24,799 shares in the company, valued at $3,741,425.13. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.99% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Sun Life Financial INC increased its stake in shares of Concho Resources by 10,850.0% during the second quarter. Sun Life Financial INC now owns 1,095 shares of the oil and natural gas company’s stock worth $133,000 after acquiring an additional 1,085 shares during the period. C M Bidwell & Associates Ltd. increased its stake in shares of Concho Resources by 1.4% during the second quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock worth $182,000 after acquiring an additional 20 shares during the period. Commonwealth Equity Services Inc acquired a new position in shares of Concho Resources during the third quarter worth about $206,000. Tower Research Capital LLC TRC increased its stake in shares of Concho Resources by 145.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the oil and natural gas company’s stock worth $216,000 after acquiring an additional 1,051 shares during the period. Finally, Greylin Investment Mangement Inc. acquired a new position in shares of Concho Resources during the fourth quarter worth about $225,000. Institutional investors and hedge funds own 94.50% of the company’s stock.
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About Concho Resources
Concho Resources Inc is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.
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