Is A Beat Likely For Concho Resources (CXO) In Q4 Earnings?
Zacks Investment Research | Feb 13, 2020 10:33PM ET
Concho Resources Inc. (NYSE:CXO) is scheduled to release fourth-quarter 2019 results on Tuesday Feb 18, after the closing bell.
The current Zacks Consensus Estimate for the to-be-reported quarter’s earnings is pegged at 77 cents per share on revenues of $1.16 billion. There has been no change in estimates for the bottom line over the past 7 days.
Against this backdrop, let’s delve into the factors that might have impacted the company’s performance in the December quarter.
Factors at Play
Concho Resources’ two major areas of interest, such as output growth and oil price realizations are giving off positive vibes for its upcoming quarterly release.
The Zacks Consensus Estimate for fourth-quarter production volumes is pegged at average 325,265 barrels of oil equivalent per day (Boe/d), indicating a 5.9% improvement from 307,097 BOE/d reported in the year-ago quarter. This strong output projection is suggestive of the synergies that might have been drawn from the 2018 RSP Permian Zacks Investment Research
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