Concho Resources Inc. (CXO) Set to Announce Quarterly Earnings on Wednesday
Concho Resources Inc. (NYSE:CXO) is set to announce its earnings results after the market closes on Wednesday, August 2nd. Analysts expect the company to announce earnings of $0.43 per share for the quarter.
Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Wednesday, May 3rd. The oil and natural gas company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.18. The firm had revenue of $612 million for the quarter, compared to the consensus estimate of $607.71 million. Concho Resources had a net margin of 10.60% and a return on equity of 2.44%. Concho Resources’s quarterly revenue was up 115.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) EPS. On average, analysts expect Concho Resources to post $1.53 EPS for the current fiscal year and $1.69 EPS for the next fiscal year.
Shares of Concho Resources Inc. (NYSE:CXO) opened at 132.12 on Thursday. Concho Resources Inc. has a 12 month low of $112.73 and a 12 month high of $147.55. The company has a market capitalization of $19.44 billion, a P/E ratio of 90.93 and a beta of 1.08. The company has a 50-day moving average of $121.97 and a 200 day moving average of $129.67.
In related news, Director Lawrence J. Nagy sold 120,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $0.27, for a total value of $32,400.00. 1.20% of the stock is currently owned by company insiders.
Several equities analysts have recently weighed in on the stock. Credit Suisse Group set a $158.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research note on Saturday, May 6th. BidaskClub raised shares of Concho Resources from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada set a $178.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research note on Saturday, June 17th. Jefferies Group LLC set a $140.00 price target on shares of Concho Resources and gave the stock a “hold” rating in a research note on Wednesday, July 19th. Finally, Scotiabank set a $125.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research note on Saturday, July 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $154.10.
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.
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