Concho Resources Inc (NYSE:CXO) – Analysts at Mitsubishi UFJ Financial Group issued their FY2018 EPS estimates for Concho Resources in a research report issued to clients and investors on Wednesday, October 31st. Mitsubishi UFJ Financial Group analyst M. Mcallister forecasts that the oil and natural gas company will post earnings per share of $5.39 for the year. Mitsubishi UFJ Financial Group also issued estimates for Concho Resources’ Q4 2018 earnings at $1.54 EPS, Q1 2019 earnings at $1.77 EPS, Q2 2019 earnings at $1.79 EPS, Q3 2019 earnings at $2.11 EPS, FY2019 earnings at $8.06 EPS, Q1 2020 earnings at $2.54 EPS, Q2 2020 earnings at $2.92 EPS, Q3 2020 earnings at $2.64 EPS and FY2020 earnings at $11.16 EPS.
Concho Resources (NYSE:CXO) last announced its earnings results on Tuesday, October 30th. The oil and natural gas company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.27. Concho Resources had a return on equity of 6.13% and a net margin of 26.92%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 90.1% compared to the same quarter last year.
CXO has been the subject of several other reports. Jefferies Financial Group set a $203.00 price objective on Concho Resources and gave the company a “buy” rating in a report on Friday, October 5th. TheStreet raised Concho Resources from a “c+” rating to a “b” rating in a report on Friday, September 28th. Piper Jaffray Companies set a $193.00 price objective on Concho Resources and gave the company a “buy” rating in a report on Sunday, September 30th. Zacks Investment Research raised Concho Resources from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a report on Tuesday, October 16th. Finally, Morgan Stanley boosted their price objective on Concho Resources from $155.00 to $163.00 and gave the company a “hold” rating in a report on Wednesday, September 26th. Seven investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $181.00.
Shares of NYSE CXO opened at $141.37 on Monday. Concho Resources has a 1 year low of $123.63 and a 1 year high of $163.11. The stock has a market cap of $28.25 billion, a PE ratio of 67.64 and a beta of 1.00. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.53 and a current ratio of 0.55.
In other news, SVP Erick Nelson sold 11,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $133.98, for a total transaction of $1,473,780.00. Following the completion of the transaction, the senior vice president now directly owns 51,058 shares of the company’s stock, valued at $6,840,750.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lee Price Moncrief sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $139.86, for a total value of $559,440.00. Following the transaction, the senior vice president now directly owns 16,193 shares of the company’s stock, valued at $2,264,752.98. The disclosure for this sale can be found here. Insiders have sold 17,500 shares of company stock valued at $2,376,320 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Advisor Partners LLC bought a new position in shares of Concho Resources during the third quarter valued at approximately $355,000. SG Americas Securities LLC bought a new position in shares of Concho Resources during the third quarter valued at approximately $4,557,000. Systematic Financial Management LP grew its holdings in shares of Concho Resources by 47.0% during the third quarter. Systematic Financial Management LP now owns 15,446 shares of the oil and natural gas company’s stock valued at $2,359,000 after purchasing an additional 4,938 shares during the last quarter. ING Groep NV bought a new position in shares of Concho Resources during the third quarter valued at approximately $454,000. Finally, Sentry Investment Management LLC grew its holdings in shares of Concho Resources by 306.1% during the third quarter. Sentry Investment Management LLC now owns 39,138 shares of the oil and natural gas company’s stock valued at $5,978,000 after purchasing an additional 29,501 shares during the last quarter. 77.84% of the stock is owned by institutional investors.
Concho Resources Company Profile
Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.
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