Concho Resources Inc (NYSE:CXO) – Jefferies Group upped their Q1 2018 earnings estimates for Concho Resources in a research note issued to investors on Tuesday. Jefferies Group analyst M. Lear now anticipates that the oil and natural gas company will earn $0.74 per share for the quarter, up from their previous forecast of $0.59. Jefferies Group has a “Buy” rating and a $185.00 price target on the stock.

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

Other analysts have also recently issued reports about the company. Morgan Stanley upped their target price on Concho Resources from $155.00 to $183.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Stifel Nicolaus set a $195.00 target price on Concho Resources and gave the company a “buy” rating in a research report on Monday. BMO Capital Markets reissued a “buy” rating and issued a $200.00 target price on shares of Concho Resources in a research report on Sunday, January 14th. Barclays upped their target price on Concho Resources from $124.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Finally, Zacks Investment Research cut Concho Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, December 6th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $165.32.

Concho Resources (NYSE CXO) opened at $157.44 on Wednesday. The stock has a market capitalization of $23,398.80, a PE ratio of 41.87 and a beta of 1.08. Concho Resources has a 1 year low of $106.73 and a 1 year high of $162.91. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.32.

In other Concho Resources news, Director Ray M. Poage sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was 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 of the company’s stock, valued at approximately $3,741,425.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.99% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CXO. Sun Life Financial INC increased its stake in Concho Resources by 10,850.0% in the 2nd quarter. Sun Life Financial INC now owns 1,095 shares of the oil and natural gas company’s stock valued at $133,000 after purchasing an additional 1,085 shares in the last quarter. C M Bidwell & Associates Ltd. increased its stake in Concho Resources by 1.4% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 1,495 shares of the oil and natural gas company’s stock valued at $182,000 after purchasing an additional 20 shares in the last quarter. Commonwealth Equity Services Inc purchased a new position in Concho Resources in the 3rd quarter valued at approximately $206,000. Tower Research Capital LLC TRC increased its stake in Concho Resources by 145.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the oil and natural gas company’s stock valued at $216,000 after purchasing an additional 1,051 shares in the last quarter. Finally, Greylin Investment Mangement Inc. purchased a new position in Concho Resources in the 4th quarter valued at approximately $225,000. 94.44% of the stock is owned by hedge funds and other institutional investors.

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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.

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

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