Concho Resources Inc (NYSE:CXO) – Research analysts at KeyCorp upped their Q1 2018 earnings estimates for Concho Resources in a note issued to investors on Sunday. KeyCorp analyst D. Deckelbaum now forecasts that the oil and natural gas company will post earnings of $0.64 per share for the quarter, up from their prior estimate of $0.53. KeyCorp currently has a “Buy” rating and a $165.00 price objective on the stock. KeyCorp also issued estimates for Concho Resources’ Q2 2018 earnings at $0.77 EPS, Q3 2018 earnings at $0.84 EPS, Q4 2018 earnings at $0.92 EPS, Q1 2019 earnings at $1.04 EPS, Q2 2019 earnings at $1.14 EPS, Q3 2019 earnings at $1.29 EPS and Q4 2019 earnings at $1.36 EPS.

Concho Resources (NYSE:CXO) last announced its earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.19. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The business had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $614.12 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The business’s revenue was up 45.8% compared to the same quarter last year.

A number of other brokerages have also recently commented on CXO. BMO Capital Markets reissued a “buy” rating and set a $200.00 target price on shares of Concho Resources in a report on Sunday, January 14th. Barclays increased their target price on Concho Resources from $124.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. Zacks Investment Research cut Concho Resources from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. KLR Group cut Concho Resources from a “buy” rating to a “hold” rating and set a $154.00 target price for the company. in a report on Thursday, December 21st. Finally, SunTrust Banks set a $145.00 price target on Concho Resources and gave the company a “buy” rating in a research report on Tuesday, October 31st. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $159.26.

Concho Resources (NYSE:CXO) opened at $160.41 on Tuesday. Concho Resources has a fifty-two week low of $106.73 and a fifty-two week high of $160.52. The company has a market capitalization of $23,850.00, a P/E ratio of 42.21 and a beta of 1.08. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32.

In other news, Director Ray M. Poage sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $150.87, for a total value of $603,480.00. Following the completion of the sale, the director now directly owns 24,799 shares in the company, valued at $3,741,425.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.99% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of CXO. UBS Asset Management Americas Inc. grew its position in Concho Resources by 7.2% in the second quarter. UBS Asset Management Americas Inc. now owns 400,394 shares of the oil and natural gas company’s stock worth $48,660,000 after acquiring an additional 26,908 shares during the period. Pinebridge Investments L.P. grew its position in Concho Resources by 299.1% in the second quarter. Pinebridge Investments L.P. now owns 1,864 shares of the oil and natural gas company’s stock worth $226,000 after acquiring an additional 1,397 shares during the period. MML Investors Services LLC purchased a new position in Concho Resources in the second quarter worth approximately $233,000. California Public Employees Retirement System boosted its position in shares of Concho Resources by 1.0% during the second quarter. California Public Employees Retirement System now owns 291,100 shares of the oil and natural gas company’s stock worth $35,377,000 after buying an additional 2,900 shares during the period. Finally, M&T Bank Corp boosted its position in shares of Concho Resources by 8.7% during the second quarter. M&T Bank Corp now owns 7,131 shares of the oil and natural gas company’s stock worth $866,000 after buying an additional 571 shares during the period. Institutional investors own 94.47% of the company’s stock.

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About Concho Resources

Concho Resources Inc is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf.

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

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