FY2018 Earnings Estimate for Concho Resources Inc. (CXO) Issued By Capital One Financial Corporation

Concho Resources Inc. (NYSE:CXO) – Research analysts at Capital One Financial Corporation upped their FY2018 earnings per share (EPS) estimates for Concho Resources in a note issued to investors on Thursday. Capital One Financial Corporation analyst R. Tullis now expects that the oil and natural gas company will earn $1.57 per share for the year, up from their prior estimate of $1.53.

Concho Resources (NYSE:CXO) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The company had revenue of $567 million during the quarter, compared to the consensus estimate of $626.09 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 43.2% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “FY2018 Earnings Estimate for Concho Resources Inc. (CXO) Issued By Capital One Financial Corporation” was first posted by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.com-unik.info/2017/08/19/fy2018-earnings-estimate-for-concho-resources-inc-cxo-issued-by-capital-one-financial-corporation-updated.html.

CXO has been the topic of a number of other reports. Citigroup Inc. lowered their price target on Concho Resources from $168.00 to $166.00 and set a “buy” rating on the stock in a research report on Thursday, July 13th. ValuEngine upgraded Concho Resources from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Credit Suisse Group set a $164.00 price target on Concho Resources and gave the company a “buy” rating in a research report on Friday, June 2nd. Scotiabank set a $156.00 price target on Concho Resources and gave the company a “buy” rating in a research report on Thursday, May 4th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $180.00 price target on shares of Concho Resources in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $152.65.

Shares of Concho Resources (NYSE:CXO) traded up 0.67% during trading on Monday, hitting $118.71. 1,084,311 shares of the stock traded hands. Concho Resources has a 52 week low of $112.73 and a 52 week high of $147.55. The firm’s 50-day moving average price is $123.01 and its 200-day moving average price is $129.36. The company has a market cap of $17.65 billion, a price-to-earnings ratio of 27.40 and a beta of 1.09.

In other news, Director Lawrence J. Nagy sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $0.27, for a total transaction of $32,400.00. Company insiders own 1.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Korea Investment CORP raised its stake in Concho Resources by 0.6% in the first quarter. Korea Investment CORP now owns 62,386 shares of the oil and natural gas company’s stock worth $8,007,000 after buying an additional 374 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in Concho Resources by 8.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,895 shares of the oil and natural gas company’s stock worth $467,000 after buying an additional 298 shares during the last quarter. Nationwide Fund Advisors increased its position in Concho Resources by 3.8% in the first quarter. Nationwide Fund Advisors now owns 71,915 shares of the oil and natural gas company’s stock worth $9,230,000 after buying an additional 2,608 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in Concho Resources by 57.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 10,744 shares of the oil and natural gas company’s stock worth $1,379,000 after buying an additional 3,939 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Concho Resources during the first quarter worth about $693,000. 93.13% of the stock is currently owned by institutional investors.

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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