Concho Resources Inc (NYSE:CXO) – Research analysts at Jefferies Financial Group reduced their Q2 2019 EPS estimates for Concho Resources in a research note issued to investors on Monday, July 15th. Jefferies Financial Group analyst M. Lear now expects that the oil and natural gas company will post earnings of $0.81 per share for the quarter, down from their prior estimate of $1.04. Jefferies Financial Group also issued estimates for Concho Resources’ Q4 2019 earnings at $0.98 EPS, FY2019 earnings at $3.38 EPS, Q2 2020 earnings at $1.29 EPS, Q4 2020 earnings at $1.52 EPS, FY2020 earnings at $5.51 EPS, Q1 2021 earnings at $1.56 EPS, Q2 2021 earnings at $1.58 EPS and FY2021 earnings at $6.62 EPS.
Other research analysts also recently issued reports about the stock. Williams Capital restated a “hold” rating and issued a $28.00 price target on shares of Cabot Oil & Gas in a research report on Sunday, April 21st. Susquehanna Bancshares set a $13.00 price target on shares of SM Energy and gave the stock a “hold” rating in a research report on Wednesday, June 19th. KeyCorp raised their price target on shares of WPX Energy from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. SunTrust Banks restated a “hold” rating and issued a $60.00 price target on shares of Tripadvisor in a research report on Tuesday, June 11th. Finally, Barclays restated a “hold” rating on shares of Mettler-Toledo International in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $161.13.
Concho Resources stock opened at $98.84 on Wednesday. The business has a 50-day simple moving average of $100.93. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.60 and a current ratio of 0.62. Concho Resources has a 1 year low of $93.31 and a 1 year high of $160.81. The company has a market cap of $19.82 billion, a P/E ratio of 21.53 and a beta of 1.16.
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 Zacks’ consensus estimate of $0.73 by ($0.01). Concho Resources had a return on equity of 4.92% and a net margin of 17.55%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. The company’s quarterly revenue was up 16.6% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 10th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.51%. Concho Resources’s dividend payout ratio (DPR) is 10.89%.
In other Concho Resources news, Director Steven D. Gray sold 7,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $120.00, for a total transaction of $840,000.00. Following the sale, the director now directly owns 179,039 shares in the company, valued at approximately $21,484,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Timothy A. Leach sold 54,545 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $109.34, for a total transaction of $5,963,950.30. Following the sale, the chairman now owns 680,041 shares in the company, valued at $74,355,682.94. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in CXO. NuWave Investment Management LLC grew its stake in shares of Concho Resources by 2,960.5% in the 2nd quarter. NuWave Investment Management LLC now owns 1,163 shares of the oil and natural gas company’s stock worth $120,000 after purchasing an additional 1,125 shares during the last quarter. Quad Cities Investment Group LLC grew its stake in shares of Concho Resources by 183.3% in the 2nd quarter. Quad Cities Investment Group LLC now owns 850 shares of the oil and natural gas company’s stock worth $87,000 after purchasing an additional 550 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new position in shares of Concho Resources in the 2nd quarter worth approximately $3,250,000. MHI Funds LLC acquired a new position in shares of Concho Resources in the 2nd quarter worth approximately $257,000. Finally, Sippican Capital Advisors grew its stake in shares of Concho Resources by 28.5% in the 2nd quarter. Sippican Capital Advisors now owns 9,797 shares of the oil and natural gas company’s stock worth $1,011,000 after purchasing an additional 2,174 shares during the last quarter. Institutional investors own 94.58% of the company’s stock.
About Concho Resources
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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