Large Outflow of Money Witnessed in Concho Resources

Concho Resources (NYSE:CXO) had an volatile session and gained 0.27 points till last call. The price was at $120.05, gaining 0.23% till the last intraday data. The total uptick value was $30.55 million while the total downtick value was $33.78 million. The shares saw a net money flow of $(-3.23) million and the up/down ratio stood at 0.9. The stock has seen a change of of 0.59% for the week. The share had a block transaction during the course of trading in which the net money flow was $(-2.12) million. Almost $0 million were received in upticks and approximately $2.12 million were lost in downticks, thereby giving the up/down ratio of 0.


Currently the company Insiders own 1.2% of Concho Resources shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -11.95% . During last six month period, the net percent change held by insiders has seen a change of -13.65%. On the companys insider trading activities,The (SVP, CFO & Treasurer) of Concho Resources Inc, Holderness Darin G sold 16,813 shares at $105.14 on March 16, 2016. The Insider selling transaction had a total value worth of $1,767,719. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Concho Resources (NYSE:CXO) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.11 points or 0.09% at $119.67 with 1,295,220 shares getting traded. Post opening the session at $119.49, the shares hit an intraday low of $118.86 and an intraday high of $121.39 and the price was in this range throughout the day. The company has a market cap of $15,743 million and the number of outstanding shares have been calculated to be 131,550,680 shares. The 52-week high of Concho Resources (NYSE:CXO) is $129.07 and the 52-week low is $69.94.

Many analysts have stated their opinion on the company shares. In a research note released to the investors, Seaport Global upgrades its rating on Concho Resources (NYSE:CXO).The analysts at the brokerage house have a current rating of Accumulate on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on June 7, 2016.

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.

Leave a Reply

Get Pre-Market Alerts!

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