Short Interest Update on Concho Resources (CXO)

Concho Resources (CXO) : Traders are getting increasingly bearish on Concho Resources (CXO), as can be seen in the addition of short positions from 6,311,674 on Jul 29, 2016, to 7,173,277 on August 15, 2016. The net change in shorts is 861,603 shares, an increase of 13.7%. 5 days remain before the expiry. The 5.5% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 1,423,276. The short interest information was released on Wednesday Aug 24th after the market close.

Concho Resources (NYSE:CXO): The stock opened at $133.15 on Wednesday but the bulls could not build on the opening and the stock topped out at $134.40 for the day. The stock traded down to $131.83 during the day, due to lack of any buying support eventually closed down at $132.38 with a loss of -1.22% for the day. The stock had closed at $134.02 on the previous day. The total traded volume was 1,309,749 shares.


In a related news, The Securities and Exchange Commission has divulged that Holderness Darin G, (SVP, CFO & Treasurer) of Concho Resources Inc, had unloaded 16,813 shares at an average price of $105.14 in a transaction dated on March 16, 2016. The total value of the transaction was worth $1,767,719.

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Your email address will not be published.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.