Concho Resources Inc. (NYSE:CXO) issued its quarterly earnings data on Tuesday. The oil and natural gas company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.19, Bloomberg Earnings reports. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The company had revenue of $627.00 million for the quarter, compared to analyst estimates of $614.12 million. During the same period in the prior year, the firm earned $0.32 earnings per share. The company’s revenue was up 45.8% on a year-over-year basis.

Concho Resources (CXO) traded up 1.06% during midday trading on Tuesday, hitting $134.21. 1,182,623 shares of the stock were exchanged. The company’s 50 day moving average is $129.98 and its 200 day moving average is $124.47. Concho Resources has a 1-year low of $106.73 and a 1-year high of $147.55. The company has a market capitalization of $19.80 billion, a P/E ratio of 31.15 and a beta of 1.13.

ILLEGAL ACTIVITY WARNING: This article was posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/10/31/concho-resources-inc-cxo-releases-quarterly-earnings-results-beats-estimates-by-0-19-eps.html.

In other Concho Resources 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 completion of the sale, the vice president now owns 132,388 shares of the company’s stock, valued at $15,203,437.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.99% of the stock is owned by corporate insiders.

A number of research firms recently commented on CXO. Barclays PLC lowered their price target on shares of Concho Resources from $125.00 to $124.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 8th. Stifel Nicolaus set a $185.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research report on Thursday, October 5th. BidaskClub raised shares of Concho Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research lowered shares of Concho Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Finally, Morgan Stanley raised their price target on shares of Concho Resources from $152.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $151.11.

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 for Concho Resources (NYSE:CXO)

Receive News & Ratings for Concho Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concho Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.