US Capital Advisors Weighs in on Concho Resources Inc.’s Q2 2018 Earnings (CXO)
Concho Resources Inc. (NYSE:CXO) – US Capital Advisors lifted their Q2 2018 EPS estimates for Concho Resources in a research note issued to investors on Monday. US Capital Advisors analyst C. Horwitz now forecasts that the oil and natural gas company will post earnings per share of $0.76 for the quarter, up from their prior forecast of $0.71. US Capital Advisors also issued estimates for Concho Resources’ Q3 2018 earnings at $0.80 EPS, Q4 2018 earnings at $0.83 EPS, FY2018 earnings at $3.11 EPS and Q3 2019 earnings at $1.07 EPS.
CXO has been the subject of a number of other research reports. Stifel Nicolaus set a $185.00 target price on shares of Concho Resources and gave the stock a “buy” rating in a research report on Thursday, October 5th. Barclays PLC cut their price objective on shares of Concho Resources from $125.00 to $124.00 and set an “overweight” rating for the company in a research report on Tuesday, August 8th. Zacks Investment Research downgraded shares of Concho Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Morgan Stanley boosted their price objective on shares of Concho Resources from $152.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Finally, Citigroup Inc. cut their price objective on shares of Concho Resources from $151.00 to $149.00 and set a “buy” rating for the company in a research report on Tuesday, August 15th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Concho Resources currently has an average rating of “Buy” and an average target price of $152.84.
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Concho Resources (CXO) traded up $0.66 during trading hours on Wednesday, reaching $140.29. 936,200 shares of the company’s stock were exchanged, compared to its average volume of 1,282,118. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.66 and a current ratio of 0.66. Concho Resources has a fifty-two week low of $106.73 and a fifty-two week high of $147.77. The company has a market cap of $20,860.56, a P/E ratio of 84.51 and a beta of 1.09.
Concho Resources (NYSE:CXO) last announced its quarterly earnings results on Tuesday, October 31st. The oil and natural gas company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.19. Concho Resources had a net margin of 24.19% and a return on equity of 2.92%. The company had revenue of $627.00 million during the quarter, compared to the consensus estimate of $614.12 million. During the same quarter last year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 45.8% compared to the same quarter last year.
A number of large investors have recently modified their holdings of the stock. C M Bidwell & Associates Ltd. grew its holdings in Concho Resources by 1.4% during the 2nd 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 purchasing an additional 20 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in Concho Resources by 1.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 3,502 shares of the oil and natural gas company’s stock worth $426,000 after acquiring an additional 35 shares in the last quarter. Cadence Capital Management LLC grew its stake in Concho Resources by 0.9% in the 2nd quarter. Cadence Capital Management LLC now owns 5,255 shares of the oil and natural gas company’s stock worth $639,000 after acquiring an additional 48 shares in the last quarter. Private Advisor Group LLC grew its stake in Concho Resources by 2.5% in the 2nd quarter. Private Advisor Group LLC now owns 2,501 shares of the oil and natural gas company’s stock worth $304,000 after acquiring an additional 60 shares in the last quarter. Finally, Symphony Asset Management LLC grew its stake in Concho Resources by 2.5% in the 2nd quarter. Symphony Asset Management LLC now owns 2,804 shares of the oil and natural gas company’s stock worth $341,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 92.66% of the company’s stock.
About Concho Resources
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.
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