Brokerages expect Concho Resources Inc (NYSE:CXO) to announce earnings per share of $0.74 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Concho Resources’ earnings, with the highest EPS estimate coming in at $0.85 and the lowest estimate coming in at $0.52. Concho Resources reported earnings of $0.94 per share in the same quarter last year, which would suggest a negative year over year growth rate of 21.3%. The company is scheduled to issue its next earnings report on Tuesday, February 18th.
On average, analysts expect that Concho Resources will report full-year earnings of $2.78 per share for the current fiscal year, with EPS estimates ranging from $2.54 to $2.90. For the next fiscal year, analysts anticipate that the business will post earnings of $3.99 per share, with EPS estimates ranging from $3.40 to $5.08. Zacks Investment Research’s EPS averages 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, October 29th. The oil and natural gas company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.05). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.09 billion. Concho Resources had a net margin of 28.98% and a return on equity of 3.24%. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.42 earnings per share.
Several research firms recently weighed in on CXO. Morgan Stanley reduced their target price on Concho Resources from $68.00 to $62.00 and set an “underweight” rating on the stock in a research report on Friday, October 4th. Raymond James lowered their price target on Concho Resources from $130.00 to $90.00 and set a “strong-buy” rating for the company in a report on Thursday, October 17th. TD Securities dropped their price objective on shares of Concho Resources from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. KeyCorp cut their price objective on shares of Concho Resources from $106.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Finally, Scotiabank initiated coverage on shares of Concho Resources in a research report on Wednesday, November 13th. They issued a “sector outperform” rating and a $92.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. Concho Resources has a consensus rating of “Buy” and a consensus target price of $124.26.
Shares of CXO stock traded down $0.48 during mid-day trading on Thursday, hitting $73.40. 1,622,678 shares of the company’s stock were exchanged, compared to its average volume of 2,142,521. Concho Resources has a fifty-two week low of $61.37 and a fifty-two week high of $126.78. The stock has a 50-day simple moving average of $69.89 and a two-hundred day simple moving average of $82.06. The company has a quick ratio of 1.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.23. The stock has a market cap of $14.85 billion, a price-to-earnings ratio of 15.99 and a beta of 1.28.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, November 7th. Concho Resources’s dividend payout ratio (DPR) is currently 10.89%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CXO. Mizuho Securities Co. Ltd. purchased a new position in Concho Resources in the 2nd quarter worth about $41,000. Signaturefd LLC lifted its stake in shares of Concho Resources by 73.5% in the third quarter. Signaturefd LLC now owns 406 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 172 shares during the last quarter. Crewe Advisors LLC bought a new stake in shares of Concho Resources during the 2nd quarter worth $51,000. Covington Capital Management grew its stake in Concho Resources by 81.2% in the 2nd quarter. Covington Capital Management now owns 500 shares of the oil and natural gas company’s stock valued at $52,000 after buying an additional 224 shares during the last quarter. Finally, NEXT Financial Group Inc bought a new position in Concho Resources in the 2nd quarter worth $53,000. 92.87% of the stock is owned by institutional investors.
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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