FY2017 EPS Estimates for Concho Resources Inc. (CXO) Boosted by US Capital Advisors
Concho Resources Inc. (NYSE:CXO) – Investment analysts at US Capital Advisors boosted their FY2017 earnings per share (EPS) estimates for Concho Resources in a research note issued on Monday. US Capital Advisors analyst C. Horwitz now expects that the oil and natural gas company will earn $1.90 per share for the year, up from their previous forecast of $1.79. US Capital Advisors also issued estimates for Concho Resources’ Q4 2017 earnings at $0.44 EPS, Q1 2018 earnings at $0.72 EPS, Q1 2019 earnings at $1.07 EPS, Q2 2019 earnings at $1.03 EPS and FY2019 earnings at $4.28 EPS.
CXO has been the subject of several other research reports. Royal Bank Of Canada set a $158.00 price target on Concho Resources and gave the stock a “buy” rating in a research note on Thursday, August 24th. Barclays PLC increased their price target on Concho Resources from $124.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. Cowen Inc reissued a “hold” rating and issued a $145.00 price target on shares of Concho Resources in a research note on Sunday, October 22nd. Zacks Investment Research raised Concho Resources from a “hold” rating to a “buy” rating and set a $149.00 price target for the company in a research note on Monday, October 16th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $109.00 price target (down previously from $130.00) on shares of Concho Resources in a research note on Tuesday, August 29th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $152.84.
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Concho Resources (NYSE CXO) opened at $140.29 on Thursday. Concho Resources has a 52 week low of $106.73 and a 52 week high of $147.77. The stock has a market capitalization of $20,860.56, a price-to-earnings ratio of 84.51 and a beta of 1.09. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.32.
Concho Resources (NYSE:CXO) last released its quarterly earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.19. Concho Resources had a return on equity of 2.92% and a net margin of 24.19%. The company 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 business posted $0.32 earnings per share. The company’s revenue for the quarter was up 45.8% compared to the same quarter last year.
Several institutional investors have recently made changes to their positions in CXO. Nordea Investment Management AB lifted its holdings in shares of Concho Resources by 33.6% during the second quarter. Nordea Investment Management AB now owns 7,968 shares of the oil and natural gas company’s stock valued at $968,000 after purchasing an additional 2,003 shares during the last quarter. Texas Capital Bancshares Inc. TX lifted its holdings in shares of Concho Resources by 5.5% during the third quarter. Texas Capital Bancshares Inc. TX now owns 7,274 shares of the oil and natural gas company’s stock valued at $958,000 after purchasing an additional 380 shares during the last quarter. Capital Advisors Inc. OK purchased a new stake in shares of Concho Resources during the second quarter valued at $2,093,000. Birinyi Associates Inc. lifted its holdings in shares of Concho Resources by 4.3% during the second quarter. Birinyi Associates Inc. now owns 11,000 shares of the oil and natural gas company’s stock valued at $1,337,000 after purchasing an additional 450 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Concho Resources by 1.1% during the second quarter. Wells Fargo & Company MN now owns 2,054,048 shares of the oil and natural gas company’s stock valued at $249,628,000 after purchasing an additional 22,167 shares during the last quarter. Institutional investors and hedge funds own 92.66% of the company’s stock.
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.
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