Concho Resources Inc (NYSE:CXO) – Research analysts at Capital One Financial reduced their Q2 2019 EPS estimates for shares of Concho Resources in a research note issued to investors on Wednesday, June 12th. Capital One Financial analyst R. Tullis now anticipates that the oil and natural gas company will post earnings per share of $1.03 for the quarter, down from their prior estimate of $1.06. Capital One Financial also issued estimates for Concho Resources’ Q3 2019 earnings at $1.19 EPS, Q4 2019 earnings at $1.28 EPS and FY2019 earnings at $4.22 EPS.
Several other research analysts also recently issued reports on CXO. Credit Suisse Group set a $132.00 price objective on Concho Resources and gave the stock a “hold” rating in a report on Wednesday, February 20th. Williams Capital set a $182.00 price objective on Concho Resources and gave the stock a “buy” rating in a report on Wednesday, February 20th. Cowen set a $140.00 price objective on Concho Resources and gave the stock a “buy” rating in a report on Tuesday, February 19th. TheStreet raised Concho Resources from a “c” rating to a “b-” rating in a report on Tuesday, February 19th. Finally, Morgan Stanley cut their price target on Concho Resources from $154.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, February 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $164.32.
NYSE:CXO opened at $100.35 on Friday. Concho Resources has a 52-week low of $93.31 and a 52-week high of $160.81. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.60 and a current ratio of 0.62. The firm has a market cap of $19.69 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 0.78 and a beta of 1.19.
Concho Resources (NYSE:CXO) last posted its quarterly earnings data on Tuesday, April 30th. The oil and natural gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). Concho Resources had a return on equity of 4.92% and a net margin of 17.55%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company posted $1.00 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year.
Institutional investors have recently modified their holdings of the stock. Delek Group Ltd. raised its stake in Concho Resources by 93.8% during the 1st quarter. Delek Group Ltd. now owns 144,592 shares of the oil and natural gas company’s stock worth $15,965,000 after buying an additional 70,000 shares during the period. National Pension Service raised its stake in Concho Resources by 4.4% during the 4th quarter. National Pension Service now owns 174,394 shares of the oil and natural gas company’s stock worth $20,817,000 after buying an additional 7,334 shares during the period. Jackson Hole Capital Partners LLC acquired a new stake in Concho Resources during the 4th quarter worth $611,000. Penserra Capital Management LLC raised its stake in Concho Resources by 303.2% during the 1st quarter. Penserra Capital Management LLC now owns 1,387 shares of the oil and natural gas company’s stock worth $153,000 after buying an additional 1,043 shares during the period. Finally, Prudential Financial Inc. increased its holdings in Concho Resources by 40.1% during the 4th quarter. Prudential Financial Inc. now owns 293,331 shares of the oil and natural gas company’s stock worth $30,146,000 after purchasing an additional 84,000 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Steven D. Gray sold 7,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $120.00, for a total transaction of $840,000.00. Following the sale, the director now owns 179,039 shares of the company’s stock, valued at approximately $21,484,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Timothy A. Leach sold 54,545 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $109.34, for a total value of $5,963,950.30. Following the sale, the chairman now directly owns 680,041 shares in the company, valued at approximately $74,355,682.94. The disclosure for this sale can be found here. In the last three months, insiders sold 66,045 shares of company stock worth $7,321,450. 1.10% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 10th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Thursday, May 9th. Concho Resources’s dividend payout ratio (DPR) is currently 10.89%.
Concho Resources Company Profile
Concho Resources, Inc engages in the acquisition, development and exploration of oil and natural gas properties. Its operations include Delaware Basin, and Midland Basin. The company was founded on February 22, 2006 and is headquartered in Midland, TX.
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