Q3 2017 EPS Estimates for Concho Resources Inc. Boosted by Analyst (CXO)
Concho Resources Inc. (NYSE:CXO) – Equities researchers at Jefferies Group increased their Q3 2017 earnings estimates for Concho Resources in a research report issued on Monday. Jefferies Group analyst M. Hsu now expects that the oil and natural gas company will earn $0.36 per share for the quarter, up from their previous estimate of $0.31. Jefferies Group has a “Hold” rating and a $140.00 price target on the stock. Jefferies Group also issued estimates for Concho Resources’ Q4 2017 earnings at $0.40 EPS, FY2017 earnings at $1.76 EPS, Q1 2018 earnings at $0.53 EPS, Q2 2018 earnings at $0.62 EPS, Q3 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.79 EPS and FY2018 earnings at $2.66 EPS.
Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.43 by $0.09. The business had revenue of $567 million during the quarter, compared to analysts’ expectations of $626.09 million. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The firm’s quarterly revenue was up 43.2% compared to the same quarter last year. During the same period last year, the company posted $0.26 earnings per share. ILLEGAL ACTIVITY WARNING: “Q3 2017 EPS Estimates for Concho Resources Inc. Boosted by Analyst (CXO)” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/08/17/q3-2017-eps-estimates-for-concho-resources-inc-boosted-by-analyst-cxo.html.
Several other equities analysts have also issued reports on CXO. Credit Suisse Group set a $158.00 price objective on Concho Resources and gave the company a “buy” rating in a research report on Saturday, May 6th. Royal Bank Of Canada set a $178.00 price objective on Concho Resources and gave the company a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research lowered Concho Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Barclays PLC decreased their price objective on Concho Resources from $125.00 to $124.00 and set an “overweight” rating for the company in a research report on Tuesday, August 8th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Concho Resources in a research report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $151.53.
Shares of Concho Resources (NYSE CXO) opened at 110.55 on Thursday. Concho Resources has a 12-month low of $109.98 and a 12-month high of $147.55. The firm has a market capitalization of $16.31 billion, a PE ratio of 25.66 and a beta of 1.09. The company’s 50 day moving average is $122.78 and its 200 day moving average is $127.92.
In other Concho Resources news, VP E Joseph Wright sold 16,696 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the transaction, the vice president now owns 132,388 shares in the company, valued at approximately $15,203,437.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CXO. Israel Discount Bank of New York boosted its position in Concho Resources by 32.0% in the second quarter. Israel Discount Bank of New York now owns 825 shares of the oil and natural gas company’s stock valued at $100,000 after buying an additional 200 shares during the last quarter. Balentine LLC boosted its position in Concho Resources by 176.7% in the first quarter. Balentine LLC now owns 830 shares of the oil and natural gas company’s stock valued at $107,000 after buying an additional 530 shares during the last quarter. Exane Derivatives boosted its position in Concho Resources by 247.2% in the second quarter. Exane Derivatives now owns 1,038 shares of the oil and natural gas company’s stock valued at $126,000 after buying an additional 739 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its position in Concho Resources by 22.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,090 shares of the oil and natural gas company’s stock valued at $132,000 after buying an additional 200 shares during the last quarter. Finally, Sun Life Financial INC boosted its position in Concho Resources by 10,850.0% in the second quarter. Sun Life Financial INC now owns 1,095 shares of the oil and natural gas company’s stock valued at $133,000 after buying an additional 1,085 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.
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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