Concho Resources (NYSE:CXO) issued its quarterly earnings data on Tuesday. The oil and natural gas company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.20, Briefing.com reports. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The company had revenue of $780.00 million during the quarter, compared to analyst estimates of $720.51 million. During the same quarter in the previous year, the company posted $0.20 earnings per share. Concho Resources’s revenue was up 48.6% compared to the same quarter last year.
Concho Resources (NYSE:CXO) opened at $147.15 on Wednesday. The firm has a market capitalization of $21,786.94, a PE ratio of 39.14 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66. Concho Resources has a one year low of $106.73 and a one year high of $162.91.
In related news, Chairman Timothy A. Leach sold 40,000 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $148.14, for a total value of $5,925,600.00. Following the sale, the chairman now directly owns 737,837 shares in the company, valued at $109,303,173.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP E Joseph Wright sold 83,759 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $148.27, for a total value of $12,418,946.93. Following the completion of the sale, the vice president now owns 159,268 shares in the company, valued at $23,614,666.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,759 shares of company stock valued at $18,948,027. Corporate insiders own 0.99% of the company’s stock.
Several analysts have issued reports on the company. Credit Suisse Group set a $159.00 price target on Concho Resources and gave the company a “hold” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Stifel Nicolaus set a $195.00 price target on Concho Resources and gave the company a “buy” rating in a report on Monday, January 29th. Jefferies Group set a $185.00 price target on Concho Resources and gave the company a “buy” rating in a report on Tuesday, January 30th. Morgan Stanley boosted their price target on Concho Resources from $155.00 to $183.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Finally, Deutsche Bank assumed coverage on Concho Resources in a report on Thursday, February 1st. They set a “hold” rating and a $171.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $168.55.
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Concho Resources Company Profile
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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