Concho Resources (CXO) has risen sharply, recording gains of 6.96% in the past 4 weeks. However, the stock has corrected -0.87% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 7.18% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
For the current week, the company shares have a recommendation consensus of Buy. The stock has recorded a twenty day Moving Average of 2.18% and the fifty day Moving Average is 6.76%. Concho Resources, Inc. is up 8.72% in the last three month period. Year-to-Date the stock performance stands at 43.05%.
Concho Resources (CXO) : 20 Wall Street analysts covering Concho Resources (CXO) believe that the average level the stock could reach for the short term is $146.7. The maximum price target given is $187 and the minimum target for short term is around $114, hence the standard deviation is calculated at $16.45.
Concho Resources (NYSE:CXO): stock turned positive on Friday. Though the stock opened at $132.9, the bulls momentum made the stock top out at $134.71 level for the day. The stock recorded a low of $131.361 and closed the trading day at $132.84, in the green by 0.61%. The total traded volume for the day was 1,216,734. The stock had closed at $132.03 in the previous days trading.
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.