Concho Resources Inc (NYSE:CXO) – Jefferies Financial Group lowered their Q1 2019 EPS estimates for Concho Resources in a research report issued on Monday, April 22nd. Jefferies Financial Group analyst M. Lear now anticipates that the oil and natural gas company will earn $0.78 per share for the quarter, down from their previous forecast of $0.85. Jefferies Financial Group also issued estimates for Concho Resources’ Q3 2019 earnings at $1.03 EPS, Q4 2019 earnings at $1.09 EPS and FY2020 earnings at $6.54 EPS.

Concho Resources (NYSE:CXO) last posted its earnings results on Tuesday, February 19th. The oil and natural gas company reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.16). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.16 billion. Concho Resources had a return on equity of 5.69% and a net margin of 55.07%. The business’s revenue was up 36.8% on a year-over-year basis. During the same period last year, the company posted $0.66 EPS.

A number of other research firms have also weighed in on CXO. MKM Partners decreased their target price on shares of Concho Resources from $161.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, February 21st. Raymond James set a $185.00 target price on shares of Concho Resources and gave the stock a “buy cxo” rating in a report on Monday, December 24th. KeyCorp set a $124.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a report on Monday. Mizuho initiated coverage on shares of Concho Resources in a report on Tuesday, January 29th. They issued a “buy” rating and a $156.00 price target on the stock. Finally, Credit Suisse Group set a $132.00 price target on shares of Concho Resources and gave the stock a “hold” rating in a report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Concho Resources currently has a consensus rating of “Buy” and a consensus target price of $164.64.

Concho Resources stock opened at $120.24 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.04. The company has a market cap of $23.77 billion, a P/E ratio of 26.20, a PEG ratio of 0.94 and a beta of 1.11. Concho Resources has a 1-year low of $93.31 and a 1-year high of $163.11.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Conning Inc. boosted its position in Concho Resources by 11.0% during the 1st quarter. Conning Inc. now owns 3,640 shares of the oil and natural gas company’s stock valued at $404,000 after buying an additional 360 shares during the period. CWM LLC boosted its position in Concho Resources by 4,976.1% during the 1st quarter. CWM LLC now owns 6,802 shares of the oil and natural gas company’s stock valued at $755,000 after buying an additional 6,668 shares during the period. Boenning & Scattergood Inc. boosted its position in Concho Resources by 81.8% during the 1st quarter. Boenning & Scattergood Inc. now owns 13,412 shares of the oil and natural gas company’s stock valued at $1,488,000 after buying an additional 6,036 shares during the period. Strs Ohio boosted its position in Concho Resources by 9.4% during the 1st quarter. Strs Ohio now owns 347,677 shares of the oil and natural gas company’s stock valued at $38,578,000 after buying an additional 29,985 shares during the period. Finally, Gulf International Bank UK Ltd boosted its position in Concho Resources by 1.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 46,575 shares of the oil and natural gas company’s stock valued at $5,167,000 after buying an additional 601 shares during the period. 94.65% of the stock is owned by institutional investors and hedge funds.

In other news, Director Steven L. Beal sold 7,500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $99.90, for a total value of $749,250.00. Following the completion of the sale, the director now owns 69,096 shares of the company’s stock, valued at approximately $6,902,690.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary A. Merriman acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was acquired at an average cost of $111.51 per share, with a total value of $223,020.00. Following the purchase, the director now directly owns 19,727 shares in the company, valued at approximately $2,199,757.77. The disclosure for this purchase can be found here. Insiders sold a total of 16,200 shares of company stock valued at $1,728,834 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

The firm also recently disclosed a special dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a $0.125 dividend. The ex-dividend date of this dividend was Thursday, February 28th. Concho Resources’s dividend payout ratio (DPR) is 10.89%.

About Concho Resources

Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2018, its estimated proved reserves totaled 1.2 billion barrels of oil equivalent.

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

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