Concho Resources (NYSE:CXO), A rise of 140,444 shares or 2.2% was seen in the short interest of Concho Res Inc. Even as the interest increased from 6,467,226 shares on May 31,2016 to 6,607,670 shares on June 15,2016, the days to cover came in at 6. The updated interest stood at 5.1% of the stocks floats. The stock has seen an average daily volume of 1,147,088 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Concho Resources (NYSE:CXO): The stock opened at $124.22 on Friday but the bulls could not build on the opening and the stock topped out at $126.01 for the day. The stock traded down to $120.57 during the day, due to lack of any buying support eventually closed down at $121.06 with a loss of -6.84% for the day. The stock had closed at $129.95 on the previous day. The total traded volume was 1,965,681 shares.
The company shares have rallied 8.12% from its 1 Year high price. On Jun 23, 2016, the shares registered one year high at $130.03 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $120.34 and the 200 Day Moving Average price is recorded at $102.87.
Stocks of Concho Resources (NYSE:CXO) rallied by 0.21% during the past week but lost 0.92% on a 4-week basis. In the past week, the company has outperformed the S&P 500 by 1.87% and the outperformance has advanced to 2.07% for the last 4 weeks period.
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.