Equities Analysts Offer Predictions for Concho Resources Inc.’s Q1 2019 Earnings (CXO)
Concho Resources Inc. (NYSE:CXO) – Analysts at Jefferies Group issued their Q1 2019 earnings per share estimates for shares of Concho Resources in a report issued on Monday. Jefferies Group analyst M. Lear expects that the oil and natural gas company will post earnings of $0.69 per share for the quarter. Jefferies Group has a “Buy” rating and a $159.00 price objective on the stock. Jefferies Group also issued estimates for Concho Resources’ Q2 2019 earnings at $0.74 EPS, Q3 2019 earnings at $0.80 EPS and FY2019 earnings at $3.08 EPS.
A number of other research analysts also recently issued reports on the stock. Barclays PLC boosted their price target on shares of Concho Resources from $124.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stifel Nicolaus set a $185.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research report on Thursday, October 5th. Royal Bank Of Canada restated a “buy” rating and issued a $158.00 price target on shares of Concho Resources in a research report on Friday, September 29th. Piper Jaffray Companies dropped their price target on shares of Concho Resources from $167.00 to $142.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. Finally, ValuEngine upgraded shares of Concho Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. Concho Resources currently has a consensus rating of “Hold” and a consensus price target of $151.06.
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Concho Resources (NYSE CXO) traded up 0.448% during midday trading on Wednesday, hitting $135.685. 339,253 shares of the company were exchanged. The stock has a market capitalization of $20.18 billion, a PE ratio of 30.287 and a beta of 1.14. Concho Resources has a one year low of $106.73 and a one year high of $147.55. The firm’s 50-day moving average price is $121.84 and its 200-day moving average price is $124.11.
Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.09. The business had revenue of $567.00 million during the quarter, compared to the consensus estimate of $626.09 million. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. Concho Resources’s revenue for the quarter was up 43.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.26 earnings per share.
A number of hedge funds have recently made changes to their positions in the business. C M Bidwell & Associates Ltd. increased its stake in Concho Resources by 1.4% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock valued at $182,000 after purchasing an additional 20 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Concho Resources by 1.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 3,502 shares of the oil and natural gas company’s stock worth $426,000 after acquiring an additional 35 shares during the last quarter. Cadence Capital Management LLC boosted its holdings in Concho Resources by 0.9% during the 2nd quarter. Cadence Capital Management LLC now owns 5,255 shares of the oil and natural gas company’s stock worth $639,000 after acquiring an additional 48 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Concho Resources by 2.5% during the 2nd quarter. Private Advisor Group LLC now owns 2,501 shares of the oil and natural gas company’s stock worth $304,000 after acquiring an additional 60 shares during the last quarter. Finally, Symphony Asset Management LLC boosted its holdings in Concho Resources by 2.5% during the 2nd quarter. Symphony Asset Management LLC now owns 2,804 shares of the oil and natural gas company’s stock worth $341,000 after acquiring an additional 69 shares during the last quarter. Institutional investors and hedge funds own 92.36% of the company’s stock.
In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the completion of the sale, the vice president now owns 132,388 shares in the company, valued at approximately $15,203,437.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.99% of the company’s stock.
Concho Resources Company Profile
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.
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