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 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.


About Author

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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