Equities analysts predict that Concho Resources Inc (NYSE:CXO) will announce $0.46 earnings per share for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Concho Resources’ earnings, with the highest EPS estimate coming in at $0.59 and the lowest estimate coming in at $0.29. Concho Resources reported earnings of $0.20 per share in the same quarter last year, which indicates a positive year over year growth rate of 130%. The firm is expected to report 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 $1.91 per share for the current year, with EPS estimates ranging from $1.76 to $2.04. For the next year, analysts anticipate that the business will report earnings of $3.24 per share, with EPS estimates ranging from $2.32 to $4.76. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Concho Resources.
Several brokerages have recently issued reports on CXO. SunTrust Banks downgraded Concho Resources from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a research report on Tuesday, February 6th. They noted that the move was a valuation call. Deutsche Bank assumed coverage on Concho Resources in a research report on Thursday, February 1st. They set a “hold” rating and a $171.00 target price on the stock. Zacks Investment Research raised Concho Resources from a “hold” rating to a “strong-buy” rating and set a $181.00 target price on the stock in a research report on Thursday, February 1st. Sanford C. Bernstein assumed coverage on Concho Resources in a research report on Thursday, February 1st. They set an “outperform” rating and a $187.00 target price on the stock. Finally, Stifel Nicolaus set a $195.00 target price on Concho Resources and gave the stock a “buy” rating in a research report on Monday, January 29th. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Concho Resources presently has a consensus rating of “Buy” and a consensus price target of $168.55.
Shares of Concho Resources (CXO) opened at $146.52 on Monday. The stock has a market capitalization of $21,786.94, a PE ratio of 38.97 and a beta of 1.00. Concho Resources has a 1 year low of $106.73 and a 1 year high of $162.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66.
In other Concho Resources news, VP E Joseph Wright sold 83,759 shares of Concho Resources stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $148.27, for a total transaction of $12,418,946.93. Following the sale, the vice president now directly owns 159,268 shares of the company’s stock, valued at $23,614,666.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ray M. Poage sold 4,000 shares of Concho Resources stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $150.87, for a total value of $603,480.00. Following the sale, the director now directly owns 24,799 shares in the company, valued at $3,741,425.13. The disclosure for this sale can be found here. Insiders have sold 127,759 shares of company stock worth $18,948,027 over the last ninety days. Company insiders own 0.99% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Concho Resources by 4.3% during the fourth quarter. BlackRock Inc. now owns 9,749,957 shares of the oil and natural gas company’s stock valued at $1,464,638,000 after purchasing an additional 402,681 shares in the last quarter. Jennison Associates LLC boosted its holdings in Concho Resources by 10.0% during the fourth quarter. Jennison Associates LLC now owns 6,201,680 shares of the oil and natural gas company’s stock valued at $931,616,000 after purchasing an additional 561,485 shares in the last quarter. Carmignac Gestion boosted its holdings in Concho Resources by 7.6% during the third quarter. Carmignac Gestion now owns 2,663,795 shares of the oil and natural gas company’s stock valued at $350,875,000 after purchasing an additional 189,251 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Concho Resources by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 1,568,279 shares of the oil and natural gas company’s stock valued at $235,092,000 after purchasing an additional 51,345 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Concho Resources by 8.8% during the third quarter. American Century Companies Inc. now owns 1,456,282 shares of the oil and natural gas company’s stock valued at $191,821,000 after purchasing an additional 117,366 shares in the last quarter. 95.03% of the stock is currently owned by institutional investors.
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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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