Concho Resources Inc. (CXO) Scheduled to Post Quarterly Earnings on Tuesday
Concho Resources Inc. (NYSE:CXO) is scheduled to announce its earnings results after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of $0.27 per share for the quarter.
Concho Resources (NYSE:CXO) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.09. The company had revenue of $567.00 million during the quarter, compared to analysts’ expectations of $626.09 million. Concho Resources had a return on equity of 2.76% and a net margin of 29.32%. Concho Resources’s revenue for the quarter was up 43.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 earnings per share. On average, analysts expect Concho Resources to post $1.61 EPS for the current fiscal year and $1.84 EPS for the next fiscal year.
Shares of Concho Resources Inc. (CXO) opened at 131.70 on Tuesday. The stock has a market cap of $19.43 billion, a PE ratio of 30.56 and a beta of 1.13. The company’s 50-day moving average price is $127.96 and its 200-day moving average price is $124.46. Concho Resources Inc. has a 52-week low of $106.73 and a 52-week high of $147.55.
A number of research firms have weighed in on CXO. Zacks Investment Research lowered Concho Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Barclays PLC cut their price target on Concho Resources from $125.00 to $124.00 and set an “overweight” rating for the company in a research note on Tuesday, August 8th. BMO Capital Markets restated a “buy” rating on shares of Concho Resources in a research note on Friday, August 11th. Scotiabank set a $125.00 price target on Concho Resources and gave the company a “buy” rating in a research note on Saturday, July 1st. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $158.00 price target on shares of Concho Resources in a research note on Friday, September 29th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $151.11.
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In related news, VP E Joseph Wright sold 16,696 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $114.84, for a total value of $1,917,368.64. Following the transaction, the vice president now directly owns 132,388 shares in the company, valued at $15,203,437.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.99% 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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