$0.28 EPS Expected for Concho Resources Inc (CXO)

October 7, 2017 - By Clifton Ray

 $0.28 EPS Expected for Concho Resources Inc (CXO)
Investors sentiment decreased to 1.03 in Q2 2017. Its down 0.04, from 1.07 in 2017Q1. It dropped, as 48 investors sold Concho Resources Inc shares while 147 reduced holdings. 51 funds opened positions while 150 raised stakes. 135.90 million shares or 0.58% less from 136.69 million shares in 2017Q1 were reported.
Apg Asset Nv reported 210,030 shares or 0.05% of all its holdings. Jane Street Group Lc has invested 0% in Concho Resources Inc (NYSE:CXO). Twin Tree Mgmt Limited Partnership accumulated 1,130 shares. First Fincl Bank Of Omaha holds 21,000 shares. Alyeska Investment Gp L P reported 0.01% stake. Amica Retiree Trust accumulated 0.08% or 787 shares. Allstate Corp invested 0.09% of its portfolio in Concho Resources Inc (NYSE:CXO). The Japan-based Tokio Marine Asset Mgmt has invested 0.14% in Concho Resources Inc (NYSE:CXO). Amalgamated Natl Bank invested 0.06% of its portfolio in Concho Resources Inc (NYSE:CXO). Wellington Management Group Incorporated Llp holds 0.07% in Concho Resources Inc (NYSE:CXO) or 2.59M shares. Virginia Retirement Et Al, a Virginia-based fund reported 17,168 shares. Hsbc Hldg Public Limited Liability Com has 98,990 shares for 0.02% of their portfolio. Next Financial Group Incorporated Inc holds 75 shares or 0% of its portfolio. Pitcairn Co accumulated 1,919 shares. Hermes Invest Mngmt Limited holds 1,680 shares.

Investors wait Concho Resources Inc (NYSE:CXO) to report on October, 31 after the close. its quarterly earnings Wall Street analysts expect $0.28 EPS, down $0.04 or 12.50 % from last year’s $0.32 same quarter earnings. This translates into $41.63M profit for CXO giving the stock a 120.46 P/E. This is assuming the current $0.28 EPS is accurate. Concho Resources Inc’s Wall Street analysts see -46.15 % negative EPS growth, taking into account the $0.52 EPS reproted in the previous quarter, The stock decreased 0.58% or $0.79 on October 6, reaching $134.91. About 779,421 shares traded. Concho Resources Inc (NYSE:CXO) has risen 13.53% since October 7, 2016 and is uptrending. It has underperformed by 3.17% the S&P500.

Concho Resources Inc (NYSE:CXO) Ratings Coverage

Among 24 analysts covering Concho Resources Inc. (NYSE:CXO), 15 have Buy rating, 0 Sell and 9 Hold. Therefore 63% are positive. Concho Resources Inc. had 80 analyst reports since July 21, 2015 according to SRatingsIntel. Scotia Capital maintained the stock with “Buy” rating in Friday, May 5 report. The firm has “Buy” rating given on Wednesday, August 10 by Deutsche Bank. Seaport Global upgraded the shares of CXO in report on Tuesday, June 7 to “Accumulate” rating. The stock has “Buy” rating by BMO Capital Markets on Saturday, September 23. The company was maintained on Thursday, August 11 by Citigroup. The firm has “Neutral” rating by SunTrust given on Tuesday, October 6. Canaccord Genuity initiated Concho Resources Inc (NYSE:CXO) on Tuesday, April 5 with “Hold” rating. The company was maintained on Friday, September 15 by Cowen & Co. Morgan Stanley upgraded the stock to “Overweight” rating in Monday, June 13 report. The company was upgraded on Tuesday, December 1 by Raymond James.

Concho Resources Inc. is an independent oil and natural gas firm engaged in the acquisition, development and exploration of oil and natural gas properties. The company has market cap of $20.06 billion. The Company’s four operating areas include the Northern Delaware Basin, the Southern Delaware Basin, the Midland Basin and the New Mexico Shelf. It has a 32.18 P/E ratio. As of December 31, 2016, the Company’s activities were focused in the Permian Basin, which underlies an area of Southeast New Mexico and West Texas approximately 250 miles wide and 300 miles long.

More recent Concho Resources Inc (NYSE:CXO) news were published by: Businesswire.com which released: “Concho Resources Inc. Announces Cash Tender Offer for Any and All of Its …” on September 13, 2017. Also Nasdaq.com published the news titled: “Concho Resources (CXO) Shares Cross Above 200 DMA” on September 25, 2017. Nasdaq.com‘s news article titled: “Why Is Concho Resources (CXO) Down 10.6% Since the Last Earnings Report?” with publication date: September 07, 2017 was also an interesting one.

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