Concho Resources Inc (NYSE:CXO) – Research analysts at Capital One Financial dropped their Q2 2019 earnings estimates for shares of Concho Resources in a research note issued to investors on Tuesday, July 23rd, Zacks Investment Research reports. Capital One Financial analyst R. Tullis now forecasts that the oil and natural gas company will earn $0.75 per share for the quarter, down from their previous estimate of $0.94. Capital One Financial also issued estimates for Concho Resources’ FY2019 earnings at $3.87 EPS.
Concho Resources (NYSE:CXO) last issued its quarterly earnings data on Wednesday, July 31st. The oil and natural gas company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.05). The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. Concho Resources had a return on equity of 4.92% and a net margin of 17.55%. The company’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS.
Several other brokerages have also recently issued reports on CXO. Williams Capital cut their price target on Concho Resources from $171.00 to $155.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup began coverage on Concho Resources in a research note on Tuesday, April 9th. They issued a “buy” rating and a $112.00 price target for the company. SunTrust Banks reiterated a “buy” rating and issued a $135.00 price target on shares of Concho Resources in a research note on Tuesday, June 11th. Barclays boosted their price target on Concho Resources from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Finally, Morgan Stanley cut their price target on Concho Resources from $136.00 to $131.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $160.00.
Shares of CXO stock opened at $97.68 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $19.08 billion, a PE ratio of 21.28 and a beta of 1.16. The company has a 50 day moving average of $100.90. Concho Resources has a 1 year low of $93.31 and a 1 year high of $160.81.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 9th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.50 annualized dividend and a yield of 0.51%. Concho Resources’s dividend payout ratio is currently 10.89%.
In other news, Chairman Timothy A. Leach sold 54,545 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $109.34, for a total transaction of $5,963,950.30. Following the completion of the transaction, the chairman now directly owns 680,041 shares in the company, valued at $74,355,682.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. First Hawaiian Bank increased its holdings in shares of Concho Resources by 2,400.0% during the first quarter. First Hawaiian Bank now owns 250 shares of the oil and natural gas company’s stock worth $28,000 after buying an additional 240 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Concho Resources during the second quarter worth $41,000. Valeo Financial Advisors LLC acquired a new position in shares of Concho Resources during the first quarter worth $50,000. NEXT Financial Group Inc acquired a new position in shares of Concho Resources during the second quarter worth $53,000. Finally, Icon Wealth Partners LLC acquired a new position in shares of Concho Resources during the first quarter worth $57,000. Institutional investors own 94.60% 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.