Concho Resources Inc (NYSE:CXO) – SunTrust Banks upped their FY2018 earnings per share estimates for shares of Concho Resources in a research note issued to investors on Wednesday. SunTrust Banks analyst N. Dingmann now expects that the oil and natural gas company will earn $3.28 per share for the year, up from their prior estimate of $2.64. SunTrust Banks has a “Hold” rating and a $180.00 price target on the stock. SunTrust Banks also issued estimates for Concho Resources’ FY2019 earnings at $3.84 EPS and FY2020 earnings at $5.39 EPS.
Concho Resources (NYSE:CXO) last issued its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.20. The company had revenue of $780.00 million for the quarter, compared to analysts’ expectations of $720.51 million. Concho Resources had a return on equity of 3.61% and a net margin of 36.97%. The firm’s revenue for the quarter was up 48.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.20 earnings per share.
Shares of Concho Resources (NYSE:CXO) traded down $0.55 during mid-day trading on Monday, reaching $152.54. The company had a trading volume of 510,615 shares, compared to its average volume of 1,303,836. The stock has a market capitalization of $23,098.07, a PE ratio of 23.88, a price-to-earnings-growth ratio of 0.95 and a beta of 1.00. Concho Resources has a 12 month low of $106.73 and a 12 month high of $162.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.50 and a current ratio of 0.51.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Concho Resources by 4.3% in the fourth quarter. BlackRock Inc. now owns 9,749,957 shares of the oil and natural gas company’s stock valued at $1,464,638,000 after acquiring an additional 402,681 shares during the period. Jennison Associates LLC lifted its holdings in Concho Resources by 10.0% in the fourth quarter. Jennison Associates LLC now owns 6,201,680 shares of the oil and natural gas company’s stock valued at $931,616,000 after acquiring an additional 561,485 shares during the period. Carmignac Gestion lifted its holdings in Concho Resources by 7.6% in the third quarter. Carmignac Gestion now owns 2,663,795 shares of the oil and natural gas company’s stock valued at $350,875,000 after acquiring an additional 189,251 shares during the period. Geode Capital Management LLC lifted its holdings in Concho Resources by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 1,568,279 shares of the oil and natural gas company’s stock valued at $235,092,000 after acquiring an additional 51,345 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Concho Resources by 8.8% in the third quarter. American Century Companies Inc. now owns 1,456,282 shares of the oil and natural gas company’s stock valued at $191,821,000 after acquiring an additional 117,366 shares during the period. 95.03% of the stock is currently owned by institutional investors.
In other Concho Resources news, Director Ray M. Poage sold 4,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $150.87, for a total value of $603,480.00. Following the transaction, the director now owns 24,799 shares of the company’s stock, valued at $3,741,425.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP E Joseph Wright sold 83,759 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $148.27, for a total value of $12,418,946.93. Following the completion of the transaction, the vice president now directly owns 159,268 shares in the company, valued at approximately $23,614,666.36. The disclosure for this sale can be found here. Insiders have sold 127,759 shares of company stock worth $18,948,027 over the last ninety days. 0.99% of the stock is currently owned by insiders.
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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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