Concho Resources Inc (CXO) Announces $0.13 Special Dividend

Concho Resources Inc (NYSE:CXO) announced a special dividend on Wednesday, February 20th, Wall Street Journal reports. Stockholders of record on Friday, March 1st will be given a dividend of 0.125 per share by the oil and natural gas company on Friday, March 29th. The ex-dividend date of this dividend is Thursday, February 28th.

Shares of NYSE:CXO traded down $8.85 during midday trading on Wednesday, hitting $112.15. The company’s stock had a trading volume of 258,020 shares, compared to its average volume of 1,553,610. The company has a market cap of $23.16 billion, a P/E ratio of 53.80, a P/E/G ratio of 0.84 and a beta of 1.26. Concho Resources has a fifty-two week low of $93.31 and a fifty-two week high of $163.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.53 and a current ratio of 0.55.

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Concho Resources (NYSE:CXO) last announced its quarterly earnings results on Tuesday, February 19th. The oil and natural gas company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.16). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.16 billion. Concho Resources had a return on equity of 6.13% and a net margin of 26.92%. The firm’s revenue for the quarter was up 36.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.66 EPS. As a group, equities analysts predict that Concho Resources will post 4.79 EPS for the current year.

A number of research firms have commented on CXO. Zacks Investment Research lowered shares of Concho Resources from a “buy” rating to a “hold” rating in a report on Wednesday, November 28th. ValuEngine raised shares of Concho Resources from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. SunTrust Banks set a $160.00 price target on shares of Concho Resources and gave the stock a “buy” rating in a research report on Tuesday, November 27th. Ifs Securities reaffirmed a “strong-buy” rating on shares of Concho Resources in a report on Sunday, February 3rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $205.00 target price on shares of Concho Resources in a report on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Concho Resources currently has an average rating of “Buy” and a consensus price target of $174.84.

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Concho Resources Company Profile

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 company's principal operating areas are located in the Permian Basin of southeast New Mexico and west Texas. As of December 31, 2017, its total estimated proved reserves were 840 million barrels of oil equivalent.

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