Concho Resources Inc (NYSE:CXO) – Equities research analysts at Capital One Financial lowered their FY2018 earnings per share (EPS) estimates for shares of Concho Resources in a report released on Wednesday, January 30th. Capital One Financial analyst R. Tullis now expects that the oil and natural gas company will post earnings of $4.94 per share for the year, down from their prior forecast of $5.05. Capital One Financial also issued estimates for Concho Resources’ Q4 2018 earnings at $1.28 EPS, Q1 2019 earnings at $1.03 EPS and FY2019 earnings at $4.00 EPS.
Several other research firms have also recently issued reports on CXO. MKM Partners initiated coverage on shares of Concho Resources in a report on Wednesday, December 5th. They issued a “buy” rating and a $176.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $196.00 price objective on shares of Concho Resources in a research note on Monday, December 17th. Raymond James set a $185.00 price objective on shares of Concho Resources and gave the company a “buy cxo” rating in a research note on Monday, December 24th. TheStreet lowered shares of Concho Resources from a “b-” rating to a “c+” rating in a research note on Wednesday, November 14th. Finally, Morgan Stanley dropped their price objective on shares of Concho Resources from $178.00 to $169.00 and set a “hold” rating on the stock in a research note on Monday, November 5th. Four analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Concho Resources has a consensus rating of “Buy” and a consensus target price of $174.84.
Concho Resources stock opened at $119.98 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $23.69 billion, a PE ratio of 57.41, a P/E/G ratio of 0.83 and a beta of 1.26. Concho Resources has a 12-month low of $93.31 and a 12-month high of $163.11.
Several institutional investors and hedge funds have recently made changes to their positions in CXO. Rehmann Capital Advisory Group increased its stake in shares of Concho Resources by 108.6% during the 3rd quarter. Rehmann Capital Advisory Group now owns 219 shares of the oil and natural gas company’s stock worth $33,000 after purchasing an additional 114 shares during the last quarter. Massey Quick Simon & CO. LLC acquired a new position in shares of Concho Resources during the 4th quarter worth $49,000. Quantamental Technologies LLC acquired a new position in shares of Concho Resources during the 4th quarter worth $133,000. Johnson Financial Group Inc. acquired a new position in shares of Concho Resources during the 3rd quarter worth $161,000. Finally, Cerebellum GP LLC acquired a new position in shares of Concho Resources during the 3rd quarter worth $188,000. Institutional investors own 94.32% of the company’s stock.
Concho Resources Company Profile
Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company’s principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.