Concho Resources Inc. (NYSE:CXO) is expected to report third quarter earnings results, after market close, on Wednesday 28th October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 1.12 per share.
Looking ahead, the full year income are expected at $ 3.92 per share on the revenues of $ 3301.51 million.
Previous Quarter Performance
Concho Resources Inc. recorded income for the second quarter of $ 1.13 per share, from the revenue of $ 474.00 million. The quarterly earnings grew 63.77 percent while revenues shrunk 57.94 percent compared with the same quarter last year.
Street analysts expected Concho Resources Inc. to report income of $ 0.46 per share on revenue of $ 788.07 million for the second quarter. The bottom line results beat street analysts by $ 0.67 or 145.65 percent, at the same time, top line results fell short of analysts by $ 314.07 million or 39.85 percent.
Stock Performance
Shares of Concho Resources Inc. traded low $ -0.08 or -0.18 percent on Tuesday, reaching $ 43.71 with volume of 3.86 million shares. Concho Resources Inc. has traded high as $ 44.31 and has cracked $ 43.27 on the downward trend
According to the previous trading day, closing price of $ 43.71, representing a 32.18 % increase from the 52 week low of $ 33.13 and a 53.09 % decrease over the 52 week high of $ 93.34.
The company has a market capital of $ 8.58 billion and is part of the Energy sector and Oil & Gas E&P industry.
Recent Analyst recommendations
- On 28th September 2020, maintained by Bank of America at Buy rating, with $ 65.00 target price.
Recent Stock Dividend Announcement
On July 28, 2020, the board of directors authorized quarterly dividend of $ 0.20 per share to holders of record as of the close of business on August 7, 2020, with payment date of September 28, 2020 and ex-dividend date on August 6, 2020.
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 companys principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2018, its estimated proved reserves totaled 1.2 billion barrels of oil equivalent.
