FY2017 Earnings Estimate for Concho Resources Inc (CXO) Issued By Capital One Financial

Concho Resources Inc (NYSE:CXO) – Investment analysts at Capital One Financial cut their FY2017 earnings per share estimates for shares of Concho Resources in a research note issued on Tuesday. Capital One Financial analyst R. Tullis now anticipates that the oil and natural gas company will post earnings of $1.93 per share for the year, down from their prior estimate of $1.97.

Several other equities analysts have also recently issued reports on the stock. SunTrust Banks cut shares of Concho Resources from a “buy” rating to a “hold” rating and set a $180.00 price target on the stock. in a research report on Tuesday. They noted that the move was a valuation call. Deutsche Bank began coverage on shares of Concho Resources in a research report on Thursday, February 1st. They set a “hold” rating and a $171.00 price target on the stock. Zacks Investment Research upgraded shares of Concho Resources from a “hold” rating to a “strong-buy” rating and set a $181.00 price target on the stock in a research report on Thursday, February 1st. Sanford C. Bernstein began coverage on shares of Concho Resources in a research report on Thursday, February 1st. They set an “outperform” rating and a $187.00 price target on the stock. Finally, Stifel Nicolaus set a $195.00 price target on shares of Concho Resources and gave the company a “buy” rating in a research report on Monday, January 29th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Concho Resources currently has an average rating of “Buy” and a consensus price target of $168.55.

Concho Resources (NYSE:CXO) opened at $140.09 on Friday. Concho Resources has a 52-week low of $106.73 and a 52-week high of $162.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $22,021.88, a PE ratio of 37.26 and a beta of 1.00.

Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Tuesday, October 31st. The oil and natural gas company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.26 by $0.19. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The firm had revenue of $627.00 million during the quarter, compared to the consensus estimate of $614.12 million. During the same period in the prior year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 45.8% compared to the same quarter last year.

In other news, Director Ray M. Poage sold 4,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 24,799 shares in the company, valued at $3,741,425.13. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP E Joseph Wright sold 83,759 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $148.27, for a total transaction of $12,418,946.93. Following the sale, the vice president now owns 159,268 shares in the company, valued at approximately $23,614,666.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,759 shares of company stock worth $18,948,027. Corporate insiders own 0.99% of the company’s stock.

Several large investors have recently bought and sold shares of CXO. Meeder Asset Management Inc. grew its holdings in shares of Concho Resources by 325.2% during 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 buying an additional 696 shares during the last quarter. ING Groep NV purchased a new stake in shares of Concho Resources during the fourth quarter valued at approximately $201,000. Commonwealth Equity Services Inc purchased a new stake in shares of Concho Resources during the third quarter valued at approximately $206,000. Park Avenue Securities LLC purchased a new stake in shares of Concho Resources during the fourth quarter valued at approximately $208,000. Finally, Greylin Investment Mangement Inc. purchased a new stake in shares of Concho Resources during the fourth quarter valued at approximately $225,000. Hedge funds and other institutional investors own 94.86% of the company’s stock.

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About Concho Resources

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.

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

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