Concho Resources Inc. (NYSE:CXO) – Capital One Financial Corporation boosted their FY2018 earnings per share (EPS) estimates for Concho Resources in a research note issued on Thursday. Capital One Financial Corporation analyst R. Tullis now anticipates that the oil and natural gas company will earn $1.57 per share for the year, up from their prior forecast of $1.53.

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada set a $178.00 target price on Concho Resources and gave the company a “buy” rating in a research report on Saturday, June 17th. Credit Suisse Group set a $158.00 target price on Concho Resources and gave the company a “buy” rating in a research report on Saturday, May 6th. BidaskClub cut Concho Resources from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Scotiabank set a $125.00 target price on Concho Resources and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Cowen and Company set a $145.00 target price on Concho Resources and gave the company a “hold” rating in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Concho Resources currently has a consensus rating of “Buy” and a consensus target price of $154.05.

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Concho Resources (CXO) opened at 118.73 on Monday. The stock has a 50 day moving average price of $122.96 and a 200 day moving average price of $129.53. The stock has a market capitalization of $17.66 billion, a P/E ratio of 27.40 and a beta of 1.09. Concho Resources has a 12 month low of $112.73 and a 12 month high of $147.55.

Concho Resources (NYSE:CXO) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.09. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. The business had revenue of $567 million for the quarter, compared to the consensus estimate of $626.09 million. During the same period in the previous year, the business earned $0.26 earnings per share. The business’s revenue was up 43.2% on a year-over-year basis.

Several hedge funds have recently made changes to their positions in CXO. Vanguard Group Inc. increased its stake in shares of 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 worth $1,884,670,000 after buying an additional 653,569 shares in the last quarter. BlackRock Inc. increased its stake in shares of 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 worth $1,238,471,000 after buying an additional 9,314,878 shares in the last quarter. State Street Corp increased its stake in shares of 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 worth $1,010,365,000 after buying an additional 236,182 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Concho Resources by 3.6% in the second quarter. Jennison Associates LLC now owns 6,038,410 shares of the oil and natural gas company’s stock worth $733,848,000 after buying an additional 211,679 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of 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 worth $499,184,000 after buying an additional 46,388 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

In other Concho Resources news, Director Lawrence J. Nagy sold 120,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $0.27, for a total value of $32,400.00. Company insiders own 1.20% of the company’s stock.

About Concho Resources

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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