Brokerages forecast that Concho Resources Inc (NYSE:CXO) will announce earnings per share of $0.74 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Concho Resources’ earnings. The highest EPS estimate is $0.85 and the lowest is $0.52. Concho Resources reported earnings per share of $0.94 in the same quarter last year, which would indicate a negative year-over-year growth rate of 21.3%. The company is scheduled to report 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 forecast that the company will report earnings of $3.99 per share, with EPS estimates ranging from $3.40 to $5.08. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Concho Resources.
Concho Resources (NYSE:CXO) last released its quarterly earnings data on Tuesday, October 29th. The oil and natural gas company reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.05). Concho Resources had a return on equity of 3.24% and a net margin of 28.98%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the company posted $1.42 EPS. The business’s quarterly revenue was down 6.5% on a year-over-year basis.
A number of research firms recently weighed in on CXO. KeyCorp lowered their target price 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. SunTrust Banks downgraded Concho Resources from a “buy” rating to a “hold” rating and cut their price target for the company from $100.00 to $70.00 in a research note on Wednesday, October 16th. Raymond James decreased their price objective 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. ValuEngine raised Concho Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Mitsubishi UFJ Financial Group dropped their target price on Concho Resources from $121.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $124.26.
Shares of NYSE CXO traded down $0.48 during mid-day trading on Thursday, reaching $73.40. 1,622,678 shares of the company’s stock traded hands, compared to its average volume of 2,142,521. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 1.48. The business has a 50-day simple moving average of $69.89 and a 200 day simple moving average of $82.06. The stock has a market cap of $14.85 billion, a P/E ratio of 15.99 and a beta of 1.28. Concho Resources has a 1-year low of $61.37 and a 1-year high of $126.78.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 8th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, November 7th. Concho Resources’s payout ratio is 10.89%.
A number of institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew its stake in Concho Resources by 73.5% in the 3rd quarter. Signaturefd LLC now owns 406 shares of the oil and natural gas company’s stock valued at $28,000 after purchasing an additional 172 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in shares of Concho Resources during the 2nd quarter worth $41,000. Usca Ria LLC purchased a new position in shares of Concho Resources in the 3rd quarter worth about $44,000. Crewe Advisors LLC purchased a new position in shares of Concho Resources in the 2nd quarter worth about $51,000. Finally, Covington Capital Management boosted its holdings in shares of 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 worth $52,000 after buying an additional 224 shares during the last quarter. Institutional investors and hedge funds own 92.87% 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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