Analysts expect Concho Resources Inc (NYSE:CXO) to report $1.18 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Concho Resources’ earnings, with estimates ranging from $1.12 billion to $1.29 billion. Concho Resources posted sales of $945.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 24.9%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 7th.

On average, analysts expect that Concho Resources will report full year sales of $4.74 billion for the current year, with estimates ranging from $3.70 billion to $5.29 billion. For the next year, analysts anticipate that the company will post sales of $6.06 billion, with estimates ranging from $5.44 billion to $7.53 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Concho Resources.

Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.01). The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Concho Resources had a net margin of 17.55% and a return on equity of 4.92%. Concho Resources’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share.

Several research firms recently commented on CXO. Morgan Stanley decreased their price target on shares of Concho Resources from $141.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, May 16th. Credit Suisse Group set a $132.00 price target on shares of Concho Resources and gave the company a “hold” rating in a research note on Wednesday, February 20th. KeyCorp restated a “buy” rating and issued a $121.00 price target on shares of Concho Resources in a research note on Friday, February 22nd. TheStreet downgraded shares of Concho Resources from a “b-” rating to a “c+” rating in a research note on Monday, March 18th. Finally, Williams Capital restated a “buy” rating and issued a $182.00 price target on shares of Concho Resources in a research note on Sunday, April 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $165.32.

Shares of CXO stock traded down $7.00 on Thursday, hitting $102.87. The company’s stock had a trading volume of 2,325,898 shares, compared to its average volume of 2,180,698. 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 fifty-two week low of $93.31 and a fifty-two week high of $160.81. The company has a market capitalization of $22.04 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 0.90 and a beta of 1.11.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.50 dividend on an annualized basis and a yield of 0.49%. Concho Resources’s payout ratio is 10.89%.

In other news, Director Gary A. Merriman acquired 2,000 shares of Concho Resources stock in a transaction on Wednesday, February 27th. The shares were purchased at an average cost of $111.51 per share, for a total transaction of $223,020.00. Following the completion of the purchase, the director now directly owns 19,727 shares of the company’s stock, valued at approximately $2,199,757.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Timothy A. Leach sold 54,545 shares of the 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. Insiders have sold 77,745 shares of company stock worth $8,532,784 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Cerebellum GP LLC lifted its holdings in shares of Concho Resources by 29.2% in the first quarter. Cerebellum GP LLC now owns 2,689 shares of the oil and natural gas company’s stock worth $298,000 after acquiring an additional 608 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Concho Resources by 6.5% in the first quarter. Nordea Investment Management AB now owns 10,992 shares of the oil and natural gas company’s stock worth $1,220,000 after acquiring an additional 668 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Concho Resources in the first quarter worth about $219,000. RMB Capital Management LLC bought a new position in shares of Concho Resources in the first quarter worth about $973,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Concho Resources by 5.3% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,007 shares of the oil and natural gas company’s stock valued at $1,100,000 after buying an additional 507 shares during the last quarter. Hedge funds and other institutional investors own 92.00% of the company’s stock.

Concho Resources Company Profile

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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Earnings History and Estimates for Concho Resources (NYSE:CXO)

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