Concho Resources Inc. (NYSE:CXO) – Investment analysts at Jefferies Group increased their Q3 2017 earnings per share (EPS) estimates for Concho Resources in a note issued to investors on Monday. Jefferies Group analyst M. Hsu now expects that the oil and natural gas company will post earnings per share of $0.36 for the quarter, up from their prior estimate of $0.31. Jefferies Group currently has a “Hold” rating and a $140.00 target price on the stock. Jefferies Group also issued estimates for Concho Resources’ Q4 2017 earnings at $0.40 EPS, FY2017 earnings at $1.76 EPS, Q1 2018 earnings at $0.53 EPS, Q2 2018 earnings at $0.62 EPS, Q3 2018 earnings at $0.72 EPS, Q4 2018 earnings at $0.79 EPS and FY2018 earnings at $2.66 EPS.

Several other research analysts have also recently weighed in on the company. BMO Capital Markets reiterated a “buy” rating and set a $180.00 price objective on shares of Concho Resources in a research report on Thursday, June 22nd. Royal Bank Of Canada restated a “buy” rating and issued a $178.00 price target on shares of Concho Resources in a research report on Friday, May 12th. Credit Suisse Group set a $158.00 price target on Concho Resources and gave the stock a “buy” rating in a research report on Saturday, May 6th. Scotiabank set a $156.00 price objective on Concho Resources and gave the company a “buy” rating in a research note on Thursday, May 4th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $173.00 price objective (up from $172.00) on shares of Concho Resources in a research note on Saturday, April 22nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Concho Resources currently has a consensus rating of “Hold” and an average target price of $151.53.

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Concho Resources (NYSE:CXO) opened at 110.55 on Thursday. The stock has a 50 day moving average of $122.78 and a 200-day moving average of $127.92. Concho Resources has a 52-week low of $109.98 and a 52-week high of $147.55. The company has a market cap of $16.31 billion, a price-to-earnings ratio of 25.66 and a beta of 1.09.

Concho Resources (NYSE:CXO) last released its quarterly earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. Concho Resources had a net margin of 29.32% and a return on equity of 2.76%. The company had revenue of $567 million for the quarter, compared to analyst estimates of $626.09 million. During the same quarter last year, the firm posted $0.26 earnings per share. The company’s quarterly revenue was up 43.2% compared to the same quarter last year.

In related news, VP E Joseph Wright sold 16,696 shares of Concho Resources stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $114.84, for a total transaction of $1,917,368.64. Following the transaction, the vice president now owns 132,388 shares of the company’s stock, valued at $15,203,437.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Syntal Capital Partners LLC boosted its position in shares of Concho Resources by 0.7% in the first quarter. Syntal Capital Partners LLC now owns 2,773 shares of the oil and natural gas company’s stock valued at $355,000 after buying an additional 19 shares during the last quarter. C M Bidwell & Associates Ltd. boosted its position in shares of Concho Resources by 1.4% in the second 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 buying an additional 20 shares during the last quarter. Wetherby Asset Management Inc. boosted its position in shares of Concho Resources by 1.6% in the first quarter. Wetherby Asset Management Inc. now owns 1,733 shares of the oil and natural gas company’s stock valued at $222,000 after buying an additional 27 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Concho Resources by 1.0% in the second quarter. Oppenheimer & Co. Inc. now owns 3,502 shares of the oil and natural gas company’s stock valued at $426,000 after buying an additional 35 shares during the last quarter. Finally, Cadence Capital Management LLC boosted its position in shares of Concho Resources by 0.9% in the second quarter. Cadence Capital Management LLC now owns 5,255 shares of the oil and natural gas company’s stock valued at $639,000 after buying an additional 48 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

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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