Concho Resources Inc (NYSE:CXO) – Equities research analysts at Piper Sandler issued their Q1 2021 earnings per share estimates for Concho Resources in a research report issued on Monday, January 13th. Piper Sandler analyst R. Todd anticipates that the oil and natural gas company will earn $1.34 per share for the quarter. Piper Sandler also issued estimates for Concho Resources’ Q2 2021 earnings at $1.21 EPS, Q3 2021 earnings at $1.17 EPS and Q4 2021 earnings at $1.16 EPS.
Concho Resources (NYSE:CXO) last released its quarterly earnings data on Tuesday, October 29th. The oil and natural gas company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.05). Concho Resources had a net margin of 28.98% and a return on equity of 3.24%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period last year, the business earned $1.42 earnings per share. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year.
A number of other analysts have also issued reports on CXO. Williams Capital reaffirmed a “buy” rating and set a $100.00 target price on shares of Concho Resources in a research report on Wednesday, October 30th. ValuEngine raised Concho Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. KeyCorp dropped their target price on Concho Resources from $106.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 15th. SunTrust Banks lowered Concho Resources from a “buy” rating to a “hold” rating and dropped their target price for the stock from $100.00 to $70.00 in a research report on Wednesday, October 16th. Finally, Barclays dropped their target price on Concho Resources from $141.00 to $107.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $111.45.
Shares of NYSE CXO opened at $89.78 on Wednesday. Concho Resources has a 1 year low of $61.37 and a 1 year high of $126.54. The firm has a market cap of $18.02 billion, a price-to-earnings ratio of 19.56 and a beta of 1.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.48 and a current ratio of 1.51. The stock’s 50-day simple moving average is $82.88 and its 200-day simple moving average is $78.17.
The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 8th were paid a $0.125 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.50 dividend on an annualized basis and a yield of 0.56%. Concho Resources’s payout ratio is currently 10.89%.
A number of hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Concho Resources by 49.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 20,730,550 shares of the oil and natural gas company’s stock worth $2,138,978,000 after buying an additional 6,853,820 shares during the period. Nuveen Asset Management LLC boosted its holdings in Concho Resources by 78,872.5% during the second quarter. Nuveen Asset Management LLC now owns 3,849,910 shares of the oil and natural gas company’s stock valued at $397,233,000 after acquiring an additional 3,845,035 shares during the period. Millennium Management LLC boosted its holdings in Concho Resources by 7,672.8% during the third quarter. Millennium Management LLC now owns 567,100 shares of the oil and natural gas company’s stock valued at $38,506,000 after acquiring an additional 559,804 shares during the period. Point72 Asset Management L.P. raised its position in shares of Concho Resources by 3,043.9% during the third quarter. Point72 Asset Management L.P. now owns 544,966 shares of the oil and natural gas company’s stock valued at $37,003,000 after buying an additional 527,632 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Concho Resources by 1.3% during the second quarter. Vanguard Group Inc. now owns 21,953,438 shares of the oil and natural gas company’s stock valued at $2,265,155,000 after buying an additional 290,603 shares during the last quarter. Institutional investors own 92.68% 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.
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