Concho Resources (CXO) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Concho Resources (NYSE:CXO) issued its quarterly earnings data on Monday. The company reported $1.01 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.97 by $0.04, AnalystRatings.Net reports. The company had revenue of $660.96 million for the quarter, compared to the consensus estimate of $629.78 million.
Shares of Concho Resources (NYSE:CXO) opened at 134.48 on Monday. Concho Resources has a 52 week low of $79.10 and a 52 week high of $135.35. The stock’s 50-day moving average is $127.6 and its 200-day moving average is $112.. The company has a market cap of $13.970 billion and a price-to-earnings ratio of 55.93.
Several analysts have recently commented on the stock. Analysts at Societe Generale downgraded shares of Concho Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. They now have a $137.00 price target on the stock, up previously from $125.00. On a related note, analysts at Raymond James raised their price target on shares of Concho Resources from $140.00 to $155.00 in a research note on Wednesday, April 23rd. Finally, analysts at KLR Group downgraded shares of Concho Resources from a “buy” rating to an “accumulate” rating in a research note on Monday, April 21st. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $135.67.
Concho Resources Inc(NYSE:CXO) is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties.
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