Equities research analysts expect Concho Resources Inc (NYSE:CXO) to announce sales of $1.13 billion for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Concho Resources’ earnings, with the lowest sales estimate coming in at $1.10 billion and the highest estimate coming in at $1.15 billion. Concho Resources reported sales of $1.07 billion during the same quarter last year, which indicates a positive year over year growth rate of 5.6%. The firm is scheduled to report its next quarterly earnings results on Tuesday, February 18th.
On average, analysts expect that Concho Resources will report full year sales of $4.43 billion for the current year, with estimates ranging from $4.03 billion to $4.69 billion. For the next year, analysts forecast that the firm will post sales of $4.81 billion, with estimates ranging from $4.66 billion to $4.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Concho Resources.
Concho Resources (NYSE:CXO) last posted its quarterly earnings results on Tuesday, October 29th. The oil and natural gas company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.05). The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Concho Resources had a return on equity of 3.24% and a net margin of 28.98%. The company’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.42 EPS.
CXO has been the topic of several recent analyst reports. Credit Suisse Group reduced their price target on shares of Concho Resources from $120.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, August 1st. TD Securities reduced their price target on shares of Concho Resources from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Mitsubishi UFJ Financial Group reduced their price target on shares of Concho Resources from $121.00 to $116.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. KeyCorp reduced their price target on shares of Concho Resources from $106.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. Finally, Citigroup reduced their price target on shares of Concho Resources from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $124.36.
Institutional investors have recently modified their holdings of the business. Mizuho Securities Co. Ltd. bought a new position in Concho Resources during the 2nd quarter worth about $41,000. Signaturefd LLC boosted its holdings in shares of Concho Resources by 73.5% in the 3rd quarter. Signaturefd LLC now owns 406 shares of the oil and natural gas company’s stock valued at $28,000 after buying an additional 172 shares in the last quarter. Crewe Advisors LLC bought a new stake in shares of Concho Resources in the 2nd quarter valued at about $51,000. Covington Capital Management boosted its holdings in shares of Concho Resources by 81.2% in the 2nd quarter. Covington Capital Management now owns 500 shares of the oil and natural gas company’s stock valued at $52,000 after buying an additional 224 shares in the last quarter. Finally, NEXT Financial Group Inc bought a new stake in shares of Concho Resources in the 2nd quarter valued at about $53,000. Institutional investors own 94.86% of the company’s stock.
CXO stock opened at $71.84 on Thursday. The company has a market capitalization of $14.51 billion, a PE ratio of 15.65 and a beta of 1.23. Concho Resources has a 12 month low of $61.37 and a 12 month high of $139.99. The firm’s 50-day moving average is $67.01 and its 200 day moving average is $86.22. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.51 and a quick ratio of 1.48.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, November 7th. Concho Resources’s payout ratio is 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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