Concho Resources Inc (NYSE:CXO) – Research analysts at US Capital Advisors issued their FY2020 earnings per share estimates for shares of Concho Resources in a report released on Friday. US Capital Advisors analyst C. Horwitz anticipates that the oil and natural gas company will post earnings per share of $5.94 for the year.
Concho Resources (NYSE:CXO) last released its quarterly earnings data on Tuesday, February 20th. The oil and natural gas company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.20. The firm had revenue of $780.00 million for the quarter, compared to analyst estimates of $720.51 million. Concho Resources had a net margin of 36.97% and a return on equity of 3.61%. Concho Resources’s quarterly revenue was up 48.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.20 earnings per share.
Other research analysts have also recently issued research reports about the stock. Sanford C. Bernstein assumed coverage on shares of Concho Resources in a research report on Thursday, February 1st. They issued an “outperform” rating and a $187.00 target price for the company. Morgan Stanley upped their target price on shares of Concho Resources from $155.00 to $183.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. SunTrust Banks cut shares of Concho Resources from a “buy” rating to a “hold” rating and set a $180.00 target price for the company. in a research report on Tuesday, February 6th. They noted that the move was a valuation call. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Concho Resources in a research report on Wednesday, February 21st. Finally, Scotiabank set a $145.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a research report on Saturday, November 25th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $169.35.
Shares of Concho Resources (NYSE CXO) opened at $153.29 on Monday. The firm has a market cap of $22,850.62, a PE ratio of 23.91, a P/E/G ratio of 0.90 and a beta of 1.01. Concho Resources has a 12 month low of $106.73 and a 12 month high of $162.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.50 and a current ratio of 0.51.
Institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank boosted its holdings in shares of Concho Resources by 12.4% in the third quarter. Toronto Dominion Bank now owns 56,398 shares of the oil and natural gas company’s stock valued at $7,428,000 after acquiring an additional 6,206 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in Concho Resources by 0.6% during the third quarter. Asset Management One Co. Ltd. now owns 241,786 shares of the oil and natural gas company’s stock valued at $31,851,000 after purchasing an additional 1,440 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Concho Resources by 11.3% during the third quarter. Ameriprise Financial Inc. now owns 361,781 shares of the oil and natural gas company’s stock valued at $47,654,000 after purchasing an additional 36,662 shares during the last quarter. LMR Partners LLP acquired a new stake in Concho Resources during the fourth quarter valued at approximately $1,032,000. Finally, Prudential Financial Inc. lifted its stake in Concho Resources by 0.5% during the third quarter. Prudential Financial Inc. now owns 209,327 shares of the oil and natural gas company’s stock valued at $27,572,000 after purchasing an additional 970 shares during the last quarter. Institutional investors and hedge funds own 95.70% of the company’s stock.
In other news, Director Ray M. Poage sold 4,000 shares of the 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 completion of the transaction, the director now directly owns 24,799 shares in the company, valued at $3,741,425.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP E Joseph Wright sold 83,759 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $148.27, for a total transaction of $12,418,946.93. Following the completion of the transaction, the vice president now owns 159,268 shares of the company’s stock, valued at $23,614,666.36. The disclosure for this sale can be found here. Insiders sold 127,759 shares of company stock valued at $18,948,027 over the last quarter. Insiders own 0.99% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This article was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another publication, it was illegally copied and republished in violation of international copyright and trademark law. The original version of this article can be accessed at https://ledgergazette.com/2018/03/12/concho-resources-inc-forecasted-to-earn-fy2020-earnings-of-5-94-per-share-cxo.html.
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.
Receive News & Ratings for Concho Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concho Resources and related companies with MarketBeat.com's FREE daily email newsletter.