Large Inflow of Money Witnessed in Concho Resources

Concho Resources (CXO) : On Thursday, The money flowed into the Concho Resources (CXO) stock with an uptick to downtick ratio was recorded at 1.1. Transactions worth $17.96 million were done on upticks, confirming the buying interest in the stock. The outflow of money on downticks stood at $16.33 million. The total money flow into the stock was $1.64 million. The investors are using every small weakness in the stock to accumulate it, as can be seen in the $0 million of block transactions on upticks. The total money flow in block trades was $0 million. In terms of price action, Concho Resources (CXO) traded down $0.78 during the session at $117.55. Compared to the previous days closing, the stock was down only by -0.66%. For the week, the stock is -1.24%, over previous weeks closing.


Concho Resources (CXO) : The consensus price target for Concho Resources (CXO) is $134.84 for the short term with a standard deviation of $14.84. The most optimist securities analyst among the 19 who monitor the stock believes that the stock can reach $173, however, the pessimist price target for the company is $105. The stock has recorded a 20-day Moving Average of 4.52% and the 50-Day Moving Average is 3.05%.

Concho Resources (NYSE:CXO): The stock opened at $120.01 on Thursday but the bulls could not build on the opening and the stock topped out at $120.33 for the day. The stock traded down to $115.12 during the day, due to lack of any buying support eventually closed down at $115.83 with a loss of -2.11% for the day. The stock had closed at $118.33 on the previous day. The total traded volume was 1,282,819 shares.

Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties. The Companys operating areas are located in the Permian Basin region of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States. The Companys three core operating areas include: New Mexico Shelf, where the Company primarily targets the Yeso formation with horizontal and vertical development; Delaware Basin, where it uses horizontal drilling and technology to target the Bone Spring formation (including the Avalon shale and the Bone Spring sands) and the Wolfcamp shale formation, and Texas Permian in the Midland Basin, where it targets the Wolfcamp and Spraberry formations with horizontal and vertical development.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.