Wall Street analysts expect that Concho Resources Inc (NYSE:CXO) will announce earnings per share (EPS) of $0.80 for the current quarter, according to Zacks. Seven analysts have issued estimates for Concho Resources’ earnings. The highest EPS estimate is $1.19 and the lowest is $0.60. Concho Resources posted earnings of $0.49 per share during the same quarter last year, which would suggest a positive year over year growth rate of 63.3%. The company is expected to announce its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that Concho Resources will report full-year earnings of $3.71 per share for the current year, with EPS estimates ranging from $2.32 to $5.53. For the next financial year, analysts expect that the company will post earnings of $5.11 per share, with EPS estimates ranging from $3.35 to $6.08. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Concho Resources.
Concho Resources (NYSE:CXO) last announced its quarterly earnings results on Tuesday, February 20th. The oil and natural gas company reported $0.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.20. Concho Resources had a net margin of 36.97% and a return on equity of 3.61%. The firm had revenue of $780.00 million for the quarter, compared to analyst estimates of $720.51 million. During the same period last year, the business earned $0.20 EPS. Concho Resources’s revenue for the quarter was up 48.6% compared to the same quarter last year.
Shares of Concho Resources (NYSE CXO) traded down $2.98 during trading hours on Thursday, reaching $150.50. 1,006,212 shares of the company traded hands, compared to its average volume of 1,460,000. 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 current ratio of 0.51 and a quick ratio of 0.50. The firm has a market cap of $22,430.00, a price-to-earnings ratio of 40.35, a P/E/G ratio of 0.90 and a beta of 1.01.
In other news, Chairman Timothy A. Leach sold 40,000 shares of Concho Resources stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $148.14, for a total value of $5,925,600.00. Following the sale, the chairman now owns 737,837 shares of the company’s stock, valued at $109,303,173.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ray M. Poage sold 4,000 shares of Concho Resources stock in a transaction dated 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 sale, the director now directly owns 24,799 shares in the company, valued at approximately $3,741,425.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,759 shares of company stock worth $18,948,027. Insiders own 0.99% of the company’s stock.
Large investors have recently modified their holdings of the company. Meeder Asset Management Inc. boosted its holdings in shares of Concho Resources by 325.2% in the fourth quarter. Meeder Asset Management Inc. now owns 910 shares of the oil and natural gas company’s stock valued at $137,000 after acquiring an additional 696 shares in the last quarter. ING Groep NV purchased a new stake in shares of Concho Resources in the fourth quarter valued at about $201,000. Park Avenue Securities LLC purchased a new stake in shares of Concho Resources in the fourth quarter valued at about $208,000. Greylin Investment Mangement Inc. purchased a new stake in shares of Concho Resources in the fourth quarter valued at about $225,000. Finally, Harbor Advisors LLC purchased a new stake in shares of Concho Resources in the fourth quarter valued at about $225,000. 95.70% of the stock is currently owned by institutional investors and hedge funds.
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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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