Concho Resources (CXO) Expected to Announce Earnings of $0.95 Per Share

Analysts expect Concho Resources (NYSE:CXO) to announce $0.95 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Concho Resources’ earnings, with estimates ranging from $0.75 to $1.31. Concho Resources posted earnings of $0.52 per share in the same quarter last year, which suggests a positive year over year growth rate of 82.7%. The company is scheduled to report its next earnings report on Wednesday, August 1st.

On average, analysts expect that Concho Resources will report full year earnings of $4.90 per share for the current year, with EPS estimates ranging from $4.18 to $5.82. For the next fiscal year, analysts anticipate that the company will report earnings of $6.69 per share, with EPS estimates ranging from $4.30 to $8.81. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Concho Resources.

Concho Resources (NYSE:CXO) last posted its earnings results on Tuesday, May 1st. The oil and natural gas company reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.19. Concho Resources had a return on equity of 4.34% and a net margin of 39.06%. The firm had revenue of $947.00 million for the quarter, compared to analysts’ expectations of $808.60 million. During the same period last year, the firm earned $0.49 EPS. The company’s quarterly revenue was up 54.7% on a year-over-year basis.



A number of equities research analysts have recently commented on CXO shares. TheStreet upgraded Concho Resources from a “c+” rating to a “b-” rating in a research report on Tuesday, February 20th. UBS began coverage on shares of Concho Resources in a research note on Wednesday, March 7th. They issued a “buy” rating and a $180.00 price target on the stock. Jefferies Group set a $190.00 price target on shares of Concho Resources and gave the company a “buy” rating in a research note on Tuesday, February 27th. Stifel Nicolaus set a $195.00 price target on shares of Concho Resources and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, KeyCorp set a $165.00 price target on shares of Concho Resources and gave the company a “buy” rating in a research note on Sunday, January 21st. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $172.41.

Shares of NYSE:CXO traded down $1.43 during trading on Tuesday, reaching $153.49. 1,755,377 shares of the company’s stock traded hands, compared to its average volume of 1,778,440. Concho Resources has a fifty-two week low of $106.73 and a fifty-two week high of $163.11. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $22.88 billion, a PE ratio of 73.44 and a beta of 0.99.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LMR Partners LLP purchased a new position in Concho Resources in the 4th quarter worth approximately $1,032,000. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Concho Resources by 250.4% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 235,851 shares of the oil and natural gas company’s stock worth $35,430,000 after buying an additional 168,551 shares during the last quarter. Shell Asset Management Co. increased its holdings in shares of Concho Resources by 150.4% during the 4th quarter. Shell Asset Management Co. now owns 44,401 shares of the oil and natural gas company’s stock worth $6,670,000 after buying an additional 26,671 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Concho Resources by 2.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 419,734 shares of the oil and natural gas company’s stock worth $63,052,000 after buying an additional 10,112 shares during the last quarter. Finally, DF Dent & Co. Inc. acquired a new stake in shares of Concho Resources during the 4th quarter worth approximately $426,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

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, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.

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

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