Concho Resources Inc. CXO is an oil and natural gas company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CXO’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that CardConnect could be a solid choice for investors.
Current Quarter Estimates for CXO
In the past 30 days, 6 estimates have gone higher for Concho Resources while 5 have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from a loss of 8 cents a share 30 days ago, to a loss of 7 cents per share today, a move of 12.5%.
Current Year Estimates for CXO
Meanwhile, Concho Resources’ current year figures are also looking quite promising, with 13 estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 33 cents per share 30 days ago to 44 cents per share today, an increase of 33.3%.
CONCHO RESOURCS Price and Consensus
CONCHO RESOURCS Price and Consensus | CONCHO RESOURCS Quote
The stock has also started to move higher lately, adding 8.8%over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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CONCHO RESOURCS (CXO): Free Stock Analysis Report
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