Concho Resources Inc. (NYSE:CXO) – Stock analysts at Jefferies Group lowered their Q1 2018 earnings per share estimates for shares of Concho Resources in a research note issued to investors on Wednesday. Jefferies Group analyst M. Hsu now forecasts that the oil and natural gas company will post earnings of $0.42 per share for the quarter, down from their prior forecast of $0.53. Jefferies Group has a “Hold” rating and a $140.00 price target on the stock. Jefferies Group also issued estimates for Concho Resources’ Q2 2018 earnings at $0.54 EPS.

Concho Resources (NYSE:CXO) last released its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.18. The business had revenue of $612 million during the quarter, compared to analysts’ expectations of $607.71 million. Concho Resources had a net margin of 10.60% and a return on equity of 2.44%. The company’s revenue for the quarter was up 115.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) EPS.

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Other research analysts also recently issued reports about the stock. Royal Bank Of Canada set a $178.00 target price on shares of Concho Resources and gave the company a “buy” rating in a research note on Saturday, June 17th. Credit Suisse Group set a $158.00 target price on shares of Concho Resources and gave the company a “buy” rating in a research note on Saturday, May 6th. BidaskClub downgraded shares of Concho Resources from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Scotiabank set a $125.00 target price on shares of Concho Resources and gave the company a “buy” rating in a research note on Saturday, July 1st. Finally, Cowen and Company set a $145.00 target price on shares of Concho Resources and gave the company a “hold” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $154.81.

Concho Resources (NYSE:CXO) traded down 0.56% during midday trading on Thursday, hitting $126.93. 309,913 shares of the stock traded hands. The company’s 50-day moving average is $121.38 and its 200-day moving average is $129.87. The company has a market cap of $18.67 billion, a PE ratio of 87.36 and a beta of 1.08. Concho Resources has a one year low of $112.73 and a one year high of $147.55.

In related news, Director Lawrence J. Nagy sold 120,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $0.27, for a total value of $32,400.00. 1.20% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Concho Resources by 4.7% in the first quarter. Vanguard Group Inc. now owns 14,684,981 shares of the oil and natural gas company’s stock valued at $1,884,670,000 after buying an additional 653,569 shares during the last quarter. BlackRock Inc. boosted its position in Concho Resources by 2,780.2% in the first quarter. BlackRock Inc. now owns 9,649,921 shares of the oil and natural gas company’s stock valued at $1,238,471,000 after buying an additional 9,314,878 shares during the last quarter. State Street Corp boosted its position in Concho Resources by 3.1% in the first quarter. State Street Corp now owns 7,872,546 shares of the oil and natural gas company’s stock valued at $1,010,365,000 after buying an additional 236,182 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Concho Resources by 1.2% in the first quarter. TIAA CREF Investment Management LLC now owns 3,889,540 shares of the oil and natural gas company’s stock valued at $499,184,000 after buying an additional 46,388 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Concho Resources by 1.8% in the first quarter. American Century Companies Inc. now owns 1,622,118 shares of the oil and natural gas company’s stock valued at $208,183,000 after buying an additional 28,520 shares during the last quarter. 93.05% of the stock is currently owned by institutional investors and hedge funds.

Concho Resources Company Profile

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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