Equities research analysts predict that Concho Resources Inc (NYSE:CXO) will announce earnings per share (EPS) of $0.43 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Concho Resources’ earnings, with the highest EPS estimate coming in at $0.58 and the lowest estimate coming in at $0.29. Concho Resources reported earnings per share of $0.20 during the same quarter last year, which would suggest a positive year-over-year growth rate of 115%. The company is scheduled to report its next earnings results after the market closes on Tuesday, February 20th.

According to Zacks, analysts expect that Concho Resources will report full-year earnings of $1.86 per share for the current fiscal year, with EPS estimates ranging from $1.58 to $2.04. For the next year, analysts expect that the business will report earnings of $2.64 per share, with EPS estimates ranging from $1.86 to $3.35. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Concho Resources.

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

CXO has been the topic of several recent analyst reports. Zacks Investment Research cut Concho Resources from a “buy” rating to a “hold” rating in a research note on Monday, December 18th. Credit Suisse Group initiated coverage on Concho Resources in a research note on Monday, December 11th. They issued a “neutral” rating and a $136.00 target price on the stock. Jefferies Group raised Concho Resources from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research note on Monday, October 9th. KeyCorp set a $150.00 target price on Concho Resources and gave the stock a “buy” rating in a research note on Thursday, October 19th. Finally, Barclays lifted their price objective on Concho Resources from $124.00 to $144.00 and gave the company 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 company currently has a consensus rating of “Buy” and a consensus price target of $157.42.

In related news, Director Ray M. Poage sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $150.87, for a total value of $603,480.00. Following the completion of the transaction, the director now directly owns 24,799 shares in the company, valued at approximately $3,741,425.13. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.99% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised 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 worth $1,839,892,000 after acquiring an additional 454,428 shares during the last quarter. Capital World Investors raised 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 worth $1,311,613,000 after acquiring an additional 1,034,000 shares during the last quarter. State Street Corp raised its holdings in Concho Resources by 0.3% in the 2nd quarter. State Street Corp now owns 7,893,306 shares of the oil and natural gas company’s stock worth $959,272,000 after acquiring an additional 20,760 shares during the last quarter. Carmignac Gestion raised its holdings in Concho Resources by 7.6% in the 3rd quarter. Carmignac Gestion now owns 2,663,795 shares of the oil and natural gas company’s stock worth $350,875,000 after acquiring an additional 189,251 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Concho Resources by 8.8% in the 3rd quarter. American Century Companies Inc. now owns 1,456,282 shares of the oil and natural gas company’s stock worth $191,821,000 after acquiring an additional 117,366 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

Concho Resources (NYSE CXO) traded up $1.23 during midday trading on Tuesday, hitting $159.09. The company had a trading volume of 879,400 shares, compared to its average volume of 992,400. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $23,660.00, a PE ratio of 41.87 and a beta of 1.08. Concho Resources has a 12 month low of $106.73 and a 12 month high of $159.52.

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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.

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Earnings History and Estimates for Concho Resources (NYSE:CXO)

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