Brokerages expect Concho Resources Inc (NYSE:CXO) to report $705.64 million in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for Concho Resources’ earnings. The highest sales estimate is $739.00 million and the lowest is $677.66 million. Concho Resources posted sales of $524.58 million in the same quarter last year, which suggests a positive year over year growth rate of 34.5%. The firm is expected to announce its next earnings results after the market closes on Tuesday, February 20th.

According to Zacks, analysts expect that Concho Resources will report full year sales of $705.64 million for the current year, with estimates ranging from $2.48 billion to $2.66 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.31 billion per share, with estimates ranging from $3.08 billion to $3.56 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Concho Resources.

Concho Resources (NYSE:CXO) last posted its earnings results on Tuesday, October 31st. 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. The company had revenue of $627.00 million during the quarter, compared to analysts’ expectations of $614.12 million. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. Concho Resources’s quarterly revenue was up 45.8% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share.

Several equities analysts recently weighed in on CXO shares. BMO Capital Markets reaffirmed a “buy” rating and set a $200.00 target price on shares of Concho Resources in a research note on Sunday. Barclays raised their target price on shares of Concho Resources from $124.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Zacks Investment Research cut shares of Concho Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, December 6th. KLR Group cut shares of Concho Resources from a “buy” rating to a “hold” rating and set a $154.00 target price for the company. in a research note on Thursday, December 21st. Finally, SunTrust Banks set a $145.00 target price on shares of Concho Resources and gave the company a “buy” rating in a research note on Tuesday, October 31st. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Concho Resources has an average rating of “Buy” and an average price target of $157.42.

Concho Resources (NYSE:CXO) opened at $156.58 on Thursday. The firm has a market cap of $23,303.64, a price-to-earnings ratio of 41.64 and a beta of 1.08. Concho Resources has a 52 week low of $106.73 and a 52 week high of $160.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66.

In other Concho Resources news, Director Ray M. Poage sold 4,000 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $150.87, for a total transaction of $603,480.00. Following the completion of the transaction, the director now owns 24,799 shares in the company, valued at $3,741,425.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.99% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Concho Resources by 7.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 517,867 shares of the oil and natural gas company’s stock worth $77,794,000 after acquiring an additional 34,958 shares during the last quarter. Creative Planning lifted its holdings in shares of Concho Resources by 154.2% in the 4th quarter. Creative Planning now owns 6,852 shares of the oil and natural gas company’s stock worth $1,029,000 after acquiring an additional 4,157 shares during the last quarter. National Pension Service lifted its holdings in shares of Concho Resources by 4.3% in the 4th quarter. National Pension Service now owns 157,554 shares of the oil and natural gas company’s stock worth $23,668,000 after acquiring an additional 6,481 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Concho Resources by 10.7% in the 4th quarter. Bank of Montreal Can now owns 71,123 shares of the oil and natural gas company’s stock worth $10,684,000 after acquiring an additional 6,876 shares during the last quarter. Finally, Greylin Investment Mangement Inc. bought a new stake in shares of Concho Resources in the 4th quarter worth about $225,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.

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

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