Concho Resources Inc. (NYSE:CXO) – Stock analysts at KeyCorp issued their Q3 2018 earnings estimates for shares of Concho Resources in a research note issued to investors on Tuesday. KeyCorp analyst D. Deckelbaum anticipates that the brokerage will post earnings of $0.38 per share for the quarter. KeyCorp also issued estimates for Concho Resources’ FY2018 earnings at $1.30 EPS.
Several other research firms have also weighed in on CXO. Zacks Investment Research lowered Concho Resources from a “buy” rating to a “hold” rating in a research report on Thursday. Johnson Rice assumed coverage on Concho Resources in a research report on Tuesday, October 4th. They issued an “accumulate” rating for the company. Canaccord Genuity reissued a “hold” rating and issued a $135.00 price objective on shares of Concho Resources in a research report on Monday. Jefferies Group set a $123.00 target price on Concho Resources and gave the company a “hold” rating in a research report on Tuesday, October 18th. Finally, Morgan Stanley reaffirmed a “buy” rating and issued a $187.00 target price on shares of Concho Resources in a research report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $139.85.
Shares of Concho Resources (NYSE:CXO) traded down 2.62% on Wednesday, reaching $134.76. The company had a trading volume of 187,891 shares. Concho Resources has a 12 month low of $69.94 and a 12 month high of $143.60. The stock’s market cap is $19.00 billion. The stock has a 50-day moving average price of $134.35 and a 200-day moving average price of $127.10.
Concho Resources (NYSE:CXO) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.32 EPS for the quarter, beating the 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 earned $430.55 million during the quarter, compared to analysts’ expectations of $69.10 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The business’s quarterly revenue was down 7.1% compared to the same quarter last year.
Large investors have recently modified their holdings of the stock. Advisor Group Inc. acquired a new stake in shares of Concho Resources during the second quarter worth about $102,000. University of Texas Investment Managment Co. acquired a new stake in shares of Concho Resources during the second quarter worth about $110,000. Checchi Capital Advisers LLC boosted its stake in shares of Concho Resources by 1.7% in the second quarter. Checchi Capital Advisers LLC now owns 1,107 shares of the company’s stock worth $132,000 after buying an additional 18 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of Concho Resources during the third quarter worth about $139,000. Finally, Cypress Capital Management LLC WY acquired a new stake in shares of Concho Resources during the third quarter worth about $158,000. 92.22% of the stock is currently owned by institutional investors and hedge funds.
About Concho Resources