Concho Resources (NYSE:CXO) issued its earnings results on Wednesday. The oil and natural gas company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.80, MarketWatch Earnings reports. The company had revenue of $474.00 million for the quarter, compared to analysts’ expectations of $892.65 million. Concho Resources had a negative net margin of 256.19% and a positive return on equity of 5.27%. The firm’s revenue was down 57.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 EPS.

NYSE:CXO traded up $1.79 during mid-day trading on Friday, hitting $52.54. 3,059,039 shares of the company’s stock were exchanged, compared to its average volume of 1,766,745. Concho Resources has a one year low of $33.13 and a one year high of $99.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.80 and a quick ratio of 2.14. The business has a fifty day moving average price of $52.68 and a 200 day moving average price of $59.89. The company has a market cap of $9.98 billion, a PE ratio of -1.07, a P/E/G ratio of 5.10 and a beta of 1.84.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Friday, August 7th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, August 6th. Concho Resources’s payout ratio is currently 26.23%.

CXO has been the topic of a number of analyst reports. R. F. Lafferty initiated coverage on shares of Concho Resources in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $68.00 target price on the stock. Barclays decreased their price objective on shares of Concho Resources from $77.00 to $74.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Bank of America upgraded shares of Concho Resources from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Monday, June 22nd. Citigroup upgraded shares of Concho Resources from a “neutral” rating to a “buy” rating and set a $76.00 price objective on the stock in a research report on Tuesday, May 5th. Finally, Zacks Investment Research cut shares of Concho Resources from a “buy” rating to a “hold” rating and set a $59.00 price objective on the stock. in a research report on Wednesday, May 27th. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $83.96.

In related news, Director Steven L. Beal sold 19,500 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $61.66, for a total transaction of $1,202,370.00. Following the sale, the director now owns 51,492 shares of the company’s stock, valued at $3,174,996.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

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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Earnings History for Concho Resources (NYSE:CXO)

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