Concho Resources Inc (NYSE:CXO) – Equities research analysts at Seaport Global Securities dropped their Q3 2019 earnings per share estimates for Concho Resources in a research note issued on Tuesday, October 30th. Seaport Global Securities analyst M. Kelly now forecasts that the oil and natural gas company will post earnings of $1.51 per share for the quarter, down from their prior forecast of $1.57. Seaport Global Securities currently has a “Hold” rating and a $145.00 price objective on the stock. Seaport Global Securities also issued estimates for Concho Resources’ Q4 2019 earnings at $1.71 EPS.
Concho Resources (NYSE:CXO) last released its quarterly earnings data on Tuesday, October 30th. The oil and natural gas company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.27. Concho Resources had a return on equity of 6.13% and a net margin of 26.92%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue for the quarter was up 90.1% on a year-over-year basis.
CXO opened at $141.05 on Thursday. Concho Resources has a one year low of $123.63 and a one year high of $163.11. The stock has a market capitalization of $27.85 billion, a PE ratio of 67.49 and a beta of 1.00. The company has a current ratio of 0.55, a quick ratio of 0.75 and a debt-to-equity ratio of 0.24.
In other Concho Resources news, SVP Lee Price Moncrief sold 4,000 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $139.86, for a total transaction of $559,440.00. Following the completion of the sale, the senior vice president now directly owns 16,193 shares of the company’s stock, valued at approximately $2,264,752.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Erick Nelson sold 11,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $133.98, for a total value of $1,473,780.00. Following the sale, the senior vice president now directly owns 51,058 shares of the company’s stock, valued at $6,840,750.84. The disclosure for this sale can be found here. Insiders have sold a total of 17,500 shares of company stock valued at $2,376,320 over the last ninety days. 1.10% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new stake in Concho Resources during the 2nd quarter worth approximately $166,000. Cerebellum GP LLC acquired a new stake in Concho Resources during the 3rd quarter worth approximately $188,000. Summit X LLC acquired a new stake in Concho Resources during the 2nd quarter worth approximately $203,000. KC Investment Advisors LLC acquired a new stake in Concho Resources during the 2nd quarter worth approximately $204,000. Finally, IFP Advisors Inc lifted its position in Concho Resources by 85.6% during the 3rd quarter. IFP Advisors Inc now owns 1,444 shares of the oil and natural gas company’s stock worth $221,000 after acquiring an additional 666 shares during the period. 77.59% of the stock is owned by institutional investors.
Concho Resources Company Profile
Concho Resources Inc, an independent oil and natural gas company, engages in the acquisition, development, and exploration of oil and natural gas properties in the United States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.
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