Concho Resources (NYSE:CXO) will be issuing its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.88 per share for the quarter.
Concho Resources (NYSE:CXO) last posted its earnings results on Tuesday, February 19th. The oil and natural gas company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.16). The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Concho Resources had a net margin of 55.07% and a return on equity of 5.69%. The business’s quarterly revenue was up 36.8% compared to the same quarter last year. During the same period last year, the company earned $0.66 EPS. On average, analysts expect Concho Resources to post $4 EPS for the current fiscal year and $7 EPS for the next fiscal year.
NYSE:CXO opened at $120.24 on Tuesday. The firm has a market capitalization of $23.77 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 0.94 and a beta of 1.11. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.01 and a current ratio of 1.04. Concho Resources has a 12 month low of $93.31 and a 12 month high of $163.11.
In other news, SVP Scott Kidwell sold 4,200 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $110.02, for a total transaction of $462,084.00. Following the completion of the sale, the senior vice president now owns 7,628 shares in the company, valued at $839,232.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary A. Merriman bought 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 27th. The shares were acquired at an average price of $111.51 per share, with a total value of $223,020.00. Following the purchase, the director now directly owns 19,727 shares of the company’s stock, valued at approximately $2,199,757.77. The disclosure for this purchase can be found here. Insiders have sold 16,200 shares of company stock valued at $1,728,834 in the last quarter. Insiders own 1.10% of the company’s stock.
CXO has been the topic of several recent analyst reports. ValuEngine lowered Concho Resources from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Raymond James set a $185.00 price objective on Concho Resources and gave the stock a “buy cxo” rating in a report on Monday, December 24th. TheStreet raised Concho Resources from a “c” rating to a “b-” rating in a report on Tuesday, February 19th. Williams Capital reaffirmed a “buy” rating and set a $182.00 price objective on shares of Concho Resources in a report on Monday, February 11th. Finally, Morgan Stanley set a $154.00 price objective on Concho Resources and gave the stock a “buy” rating in a report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Concho Resources presently has an average rating of “Buy” and a consensus target price of $164.64.
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Concho Resources Company Profile
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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