Concho Resources Inc (NYSE:CXO) – Equities research analysts at Piper Jaffray Companies dropped their Q1 2019 earnings estimates for Concho Resources in a research report issued on Wednesday, January 9th. Piper Jaffray Companies analyst R. Todd now anticipates that the oil and natural gas company will post earnings per share of $1.12 for the quarter, down from their previous estimate of $1.47. Piper Jaffray Companies has a “Buy” rating and a $209.00 price target on the stock. Piper Jaffray Companies also issued estimates for Concho Resources’ Q2 2019 earnings at $1.09 EPS, Q3 2019 earnings at $1.33 EPS, Q4 2019 earnings at $1.53 EPS, FY2019 earnings at $5.06 EPS, Q1 2020 earnings at $1.77 EPS, Q2 2020 earnings at $1.83 EPS, Q3 2020 earnings at $1.97 EPS, Q4 2020 earnings at $2.14 EPS and FY2020 earnings at $7.71 EPS.
Other equities research analysts also recently issued reports about the company. Williams Capital reaffirmed a “buy” rating and set a $182.00 price target on shares of Concho Resources in a research note on Wednesday, December 12th. Seaport Global Securities set a $145.00 price target on Concho Resources and gave the stock a “hold” rating in a research note on Wednesday, October 31st. Stephens assumed coverage on Concho Resources in a research note on Thursday, December 6th. They set an “equal weight” rating and a $185.00 price target for the company. JPMorgan Chase & Co. set a $188.00 price target on Concho Resources and gave the stock a “buy” rating in a research note on Monday, October 29th. Finally, Raymond James set a $185.00 price target on Concho Resources and gave the stock a “buy” rating in a research note on Sunday, December 30th. Seven investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $175.68.
Shares of Concho Resources stock opened at $120.45 on Friday. Concho Resources has a 1 year low of $93.31 and a 1 year high of $163.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.55 and a quick ratio of 0.53. The stock has a market capitalization of $24.62 billion, a P/E ratio of 57.63, a price-to-earnings-growth ratio of 0.81 and a beta of 1.21.
Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Tuesday, October 30th. The oil and natural gas company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Concho Resources had a return on equity of 6.13% and a net margin of 26.92%. The business’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS.
Several hedge funds have recently modified their holdings of CXO. State of Alaska Department of Revenue grew its holdings in Concho Resources by 6.6% in the 4th quarter. State of Alaska Department of Revenue now owns 40,817 shares of the oil and natural gas company’s stock valued at $4,194,000 after buying an additional 2,516 shares during the last quarter. Cerebellum GP LLC grew its holdings in Concho Resources by 68.8% in the 4th quarter. Cerebellum GP LLC now owns 2,081 shares of the oil and natural gas company’s stock valued at $214,000 after buying an additional 848 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Concho Resources by 5.0% in the 4th quarter. Retirement Systems of Alabama now owns 221,963 shares of the oil and natural gas company’s stock valued at $22,816,000 after buying an additional 10,600 shares during the last quarter. Private Trust Co. NA acquired a new stake in Concho Resources in the 4th quarter valued at approximately $257,000. Finally, Avitas Wealth Management LLC acquired a new stake in Concho Resources in the 3rd quarter valued at approximately $863,000. 94.24% of the stock is currently owned by institutional investors and hedge funds.
About Concho Resources
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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