Wall Street analysts forecast that Concho Resources Inc (NYSE:CXO) will report earnings per share of $0.78 for the current quarter, according to Zacks Investment Research. Eleven analysts have made estimates for Concho Resources’ earnings, with the highest EPS estimate coming in at $1.08 and the lowest estimate coming in at $0.64. Concho Resources reported earnings per share of $1.24 in the same quarter last year, which would suggest a negative year-over-year growth rate of 37.1%. The business is scheduled to report its next earnings report after the market closes on Wednesday, July 31st.
On average, analysts expect that Concho Resources will report full-year earnings of $3.80 per share for the current fiscal year, with EPS estimates ranging from $3.26 to $5.00. For the next fiscal year, analysts expect that the company will report earnings of $6.31 per share, with EPS estimates ranging from $4.60 to $12.71. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Concho Resources.
Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Tuesday, April 30th. The oil and natural gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). Concho Resources had a net margin of 17.55% and a return on equity of 4.92%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm earned $1.00 EPS. The business’s revenue for the quarter was up 16.6% on a year-over-year basis.
A number of equities analysts have recently commented on the stock. Susquehanna Bancshares set a $13.00 price target on shares of SM Energy and gave the stock a “hold” rating in a report on Wednesday, June 19th. Morgan Stanley set a $207.00 price objective on Alibaba Group and gave the company a “buy” rating in a research note on Friday, July 12th. KeyCorp boosted their target price on WPX Energy from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. SunTrust Banks restated a “hold” rating and set a $60.00 target price on shares of Tripadvisor in a research note on Tuesday, June 11th. Finally, Barclays restated a “hold” rating on shares of Mettler-Toledo International in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $160.67.
In other news, Chairman Timothy A. Leach sold 54,545 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $109.34, for a total value of $5,963,950.30. Following the transaction, the chairman now owns 680,041 shares of the company’s stock, valued at $74,355,682.94. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Concho Resources by 7.7% in the fourth quarter. Geode Capital Management LLC now owns 2,548,154 shares of the oil and natural gas company’s stock valued at $261,459,000 after buying an additional 181,294 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Concho Resources by 20.1% in the first quarter. American Century Companies Inc. now owns 2,465,573 shares of the oil and natural gas company’s stock valued at $273,580,000 after buying an additional 412,726 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Concho Resources by 0.9% in the first quarter. Northern Trust Corp now owns 2,330,088 shares of the oil and natural gas company’s stock valued at $258,546,000 after buying an additional 21,749 shares in the last quarter. FIL Ltd boosted its stake in shares of Concho Resources by 11.8% in the first quarter. FIL Ltd now owns 1,716,909 shares of the oil and natural gas company’s stock valued at $190,508,000 after buying an additional 181,581 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Concho Resources in the fourth quarter valued at approximately $166,890,000. 94.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:CXO traded down $1.77 during trading on Friday, reaching $96.54. The company had a trading volume of 212,546 shares, compared to its average volume of 1,389,415. The company has a fifty day moving average price of $101.25. The stock has a market cap of $19.43 billion, a PE ratio of 21.03 and a beta of 1.16. Concho Resources has a 12 month low of $93.31 and a 12 month high of $160.81. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.62 and a quick ratio of 0.60.
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 10th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Thursday, May 9th. Concho Resources’s payout ratio is currently 10.89%.
Concho Resources Company Profile
Concho Resources, Inc engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include Delaware Basin, and Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.
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