Markets Wired

General Report on Concho Resources Inc (NYSE:CXO)

April 29
08:58 2015

[Business Wire] Concho Resources Inc (NYSE:CXO)(TREND ANALYSIS) will host a conference call on Tuesday, May 5, 2015, at 9:00 AM CT (10:00 AM ET) to discuss first quarter 2015 financial and operating results. The Company plans to announce first quarter 2015 results on Monday, May 4, 2015, after close of trading.

Conference Call Information:
Dial-in: (800) 299-8538
Intl. dial-in: (617) 786-2902
Participant Passcode: 77249327

To access the live webcast, visit www.concho.com. The replay will also be available on the Company’s website under the “Investors” section.

Stock Performance: Click here for a free comprehensive Trend Analysis Report

The company is expected to announce next quarter earnings on May 04, at consensus estimate of $0.24. Concho Resources Inc (CXO) reported last quarter earnings on February 25. The Oil Exploration & Production company announced earnings per share of $0.88 against a consensus Street estimate of $0.85, beating the average estimate by $0.03. This corresponds to a decrease of $0.06 compared to the same quarter of the previous fiscal year.

Concho Resources Inc (NYSE:CXO) is currently trading 15.21% below its 52-week-high, 63.18% above its 52-week-low. The 12-months range for the stock is $77.22 – $148.61. Concho Resources Inc (CXO) has a price to earnings ratio of 25.84 versus S&P 500 average of 17.22. CXO stock price has outperformed the S&P 500 by 22.4%. The Oil Exploration & Production company is currently valued at $14.96 billion and its share price closed the last trading session at $126.01. The stock has a 50-day moving average of $115.95 and a 200-day moving average of $108.49.

Concho Resources Inc (CXO) current short interest stands at 5.04 million shares. It has increased by 29% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.08 million shares, the number of days required to cover the short positions stand at 4.7 days.

Is this a Buying Opportunity? Click here for a free Trend Analysis Report

There are currently twenty-eight analysts that cover CXO stock. Of those twenty-eight, twenty-two have a Buy rating, six have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $134.19.

A recent analyst activity consisted of Jefferies reiterating their Buy stance on April 24. Jefferies increased their price target on CXO from $133 to $145. This corresponds to a 15.07% upside from the last closing price. On the date of report, the stock closed at $125.84.

Nomura initiated their coverage on the stock with Buy rating on April 22, and fixed their price target at $149. This corresponds to a 18.24% upside from the last closing price. On the date of report, the stock closed at $123.6.

Company profile

Concho Resources Inc. acquires, develops and explores for oil and natural gas properties in the Permian Basin area of Southeast New Mexico and West Texas.

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Jim Bloom

Jim Bloom

Jim Bloom is a Managing Director covering Large-Cap Banks and diversified financial companies. Prior to joining Markets Wired, Jim was a consultant in KPMG’s bank group.

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