Concho Resources (CXO) Shares are Up 3.73%

Concho Resources (CXO) : Traders are bullish on Concho Resources (CXO) as it has outperformed the S&P 500 by a wide margin of 7.63% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.68%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.73% in the last 1 week, and is up 8.74% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 8.06% and the 50-Day Moving Average is 9.48%. Concho Resources (NYSE:CXO): stock turned positive on Friday. Though the stock opened at $132.71, the bulls momentum made the stock top out at $134.03 level for the day. The stock recorded a low of $131.255 and closed the trading day at $133.73, in the green by 1.21%. The total traded volume for the day was 835,386. The stock had closed at $132.13 in the previous days trading.


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% . Institutional Investors own 99.76% of Concho Resources shares. During last six month period, the net percent change held by insiders has seen a change of -14.65%. Also, Citigroup maintains their rating on the shares of Concho Resources (NYSE:CXO). The current rating of the shares is Buy. Equity Analysts at the Firm raises the price target to $150 per share from $143 per share. The rating by the firm was issued on August 11, 2016.

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