Concho Resources Inc. (NYSE:CXO) – Equities research analysts at KeyCorp dropped their Q4 2016 earnings estimates for shares of Concho Resources in a report issued on Tuesday. KeyCorp analyst D. Deckelbaum now forecasts that the brokerage will post earnings of ($0.26) per share for the quarter, down from their previous estimate of ($0.21). KeyCorp also issued estimates for Concho Resources’ Q1 2017 earnings at ($0.07) EPS, Q2 2017 earnings at $0.01 EPS, Q3 2017 earnings at $0.00 EPS, Q4 2017 earnings at $0.14 EPS, FY2017 earnings at $0.08 EPS and Q1 2018 earnings at $0.26 EPS.

Other equities analysts have also issued reports about the company. KLR Group increased their price objective on Concho Resources from $157.00 to $172.00 and gave the company an “accumulate” rating in a research report on Thursday, November 10th. Johnson Rice initiated coverage on Concho Resources in a research report on Tuesday, October 4th. They set an “accumulate” rating on the stock. Bank of America set a $151.00 price objective on Concho Resources and gave the company a “buy” rating in a research report on Tuesday, November 8th. Zacks Investment Research upgraded Concho Resources from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a research report on Friday, November 4th. Finally, Seaport Global Securities upgraded Concho Resources from an “accumulate” rating to a “buy” rating in a research report on Friday, December 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $143.00.

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

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Shares of Concho Resources (NYSE:CXO) traded up 0.39% during trading on Friday, reaching $134.91. The company’s stock had a trading volume of 550,655 shares. The stock’s 50 day moving average price is $137.42 and its 200-day moving average price is $131.16. Concho Resources has a 52-week low of $69.94 and a 52-week high of $147.55. The stock’s market cap is $19.02 billion.

Concho Resources (NYSE:CXO) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.14. Concho Resources had a positive return on equity of 0.93% and a negative net margin of 89.23%. The firm had revenue of $430.55 million for the quarter, compared to analyst estimates of $69.10 million. During the same period in the previous year, the firm earned $0.33 earnings per share. The company’s revenue was down 7.1% compared to the same quarter last year.

In other Concho Resources news, CEO Timothy A. Leach sold 46,150 shares of Concho Resources stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $135.28, for a total transaction of $6,243,172.00. Following the completion of the transaction, the chief executive officer now owns 656,263 shares in the company, valued at $88,779,258.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Brenda R. Schroer sold 1,800 shares of Concho Resources stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $138.04, for a total value of $248,472.00. Following the transaction, the chief accounting officer now owns 8,060 shares of the company’s stock, valued at approximately $1,112,602.40. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. HighPoint Advisor Group LLC bought a new position in shares of Concho Resources during the third quarter worth about $673,000. Credit Suisse AG raised its stake in Concho Resources by 77.6% in the third quarter. Credit Suisse AG now owns 644,579 shares of the company’s stock worth $88,534,000 after buying an additional 281,617 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in Concho Resources by 31.9% in the third quarter. Ameritas Investment Partners Inc. now owns 3,398 shares of the company’s stock worth $467,000 after buying an additional 821 shares during the last quarter. Chartwell Investment Partners LLC raised its stake in Concho Resources by 5.5% in the third quarter. Chartwell Investment Partners LLC now owns 100,730 shares of the company’s stock worth $13,835,000 after buying an additional 5,255 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in Concho Resources by 62.0% in the third quarter. Candriam Luxembourg S.C.A. now owns 6,541 shares of the company’s stock worth $898,000 after buying an additional 2,503 shares during the last quarter. Institutional investors and hedge funds own 96.14% of the company’s stock.

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 operations are focused in the Permian Basin of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States.

5 Day Chart for NYSE:CXO

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