Concho Resources Inc (NYSE:CXO) – Equities research analysts at Jefferies Group lowered their FY2017 earnings per share estimates for Concho Resources in a report released on Wednesday. Jefferies Group analyst M. Lear now anticipates that the oil and natural gas company will post earnings per share of $1.87 for the year, down from their prior estimate of $1.89. Jefferies Group currently has a “Buy” rating and a $173.00 price target on the stock. Jefferies Group also issued estimates for Concho Resources’ Q4 2017 earnings at $0.42 EPS, FY2018 earnings at $2.82 EPS, Q1 2019 earnings at $0.85 EPS, Q2 2019 earnings at $0.92 EPS, Q3 2019 earnings at $1.00 EPS and FY2019 earnings at $3.84 EPS.

Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.19. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The business had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $614.12 million. During the same period in the previous year, the company earned $0.32 earnings per share. Concho Resources’s revenue for the quarter was up 45.8% on a year-over-year basis.

A number of other analysts have also recently weighed in on CXO. ValuEngine upgraded shares of Concho Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Piper Jaffray Companies reduced their price objective on shares of Concho Resources from $167.00 to $142.00 and set an “overweight” rating for the company in a research note on Monday, September 18th. Royal Bank of Canada reaffirmed a “buy” rating and set a $158.00 target price on shares of Concho Resources in a research report on Friday, September 29th. Stifel Nicolaus set a $185.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, Barclays boosted their target price on shares of Concho Resources from $124.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $153.47.

Shares of Concho Resources (CXO) opened at $151.77 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.66 and a quick ratio of 0.66. Concho Resources has a one year low of $106.73 and a one year high of $152.67. The firm has a market cap of $22,570.00, a price-to-earnings ratio of 39.94 and a beta of 1.08.

A number of institutional investors have recently made changes to their positions in CXO. JPMorgan Chase & Co. increased its holdings in Concho Resources by 30.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,790,818 shares of the oil and natural gas company’s stock valued at $825,288,000 after buying an additional 1,599,084 shares during the period. Capital World Investors increased its holdings in Concho Resources by 10.6% in the 2nd quarter. Capital World Investors now owns 10,792,500 shares of the oil and natural gas company’s stock valued at $1,311,613,000 after buying an additional 1,034,000 shares during the period. Vanguard Group Inc. increased its holdings in Concho Resources by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 15,139,409 shares of the oil and natural gas company’s stock valued at $1,839,892,000 after buying an additional 454,428 shares during the period. TimesSquare Capital Management LLC bought a new stake in Concho Resources in the 2nd quarter valued at $52,513,000. Finally, Dimensional Fund Advisors LP increased its holdings in Concho Resources by 45.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,213,337 shares of the oil and natural gas company’s stock valued at $159,823,000 after buying an additional 377,438 shares during the period. 94.47% of the stock is currently owned by hedge funds and other institutional investors.

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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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