Concho Resources (NYSE:CXO) reported third quarter earnings that beat analyst's expectations on Tuesday and revenue that topped forecasts.
The firm reported earnings per share of $1.42 on revenue of $1.19B. Analysts polled by anticipated EPS of $1.04 on revenue of $1.1B. That compared to EPS of $0.45 on revenue of $627.0M in the same period a year earlier. The company had reported EPS of $1.24 on revenue of $945M in the previous quarter.
For the year, Concho Resources shares are down 9.61%, under-performing the S&P 500 which is down 0% year to date.
Concho Resources follows other major Energy sector earnings this month
On Friday, Total ADR reported third quarter EPS of $1.47 on revenue of $48.4B, compared to forecasts of EPS of $1.41 on revenue of $48.86B.
BP (LON:BP) ADR earnings beat analyst's expectations on Tuesday, with third quarter EPS of $1.15 on revenue of $80.8B. analysts expected EPS of $0.87 on revenue of $23.47B
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