Concho Resources (CXO) : The total money flow in Concho Resources (CXO) was negative ($2.5 million), which signals selling by the traders on Tuesdays session. They trimmed their holdings by selling the stock on downticks to the tune of $22.26 million. In comparison, the inflow of money into the stock on upticks was $19.76 million. The uptick to downtick ratio was 0.89. Similarly, the block trades show selling by large traders on strength. The value of stocks sold down on downtick was $0.1 million. The negative money flow of ($0 million) confirms the selling in Concho Resources (CXO) on strength. Concho Resources (CXO) gained $0.06 at $133.03, a gain of 0.05% over the previous days close. However, the stock registered 0.14% in the week.
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 $162 per share from $150 per share. The rating by the firm was issued on August 26, 2016.
Concho Resources, Inc. has dropped 1.31% in the last five trading days, however, the shares have posted positive gains of 12.01% in the last 4 weeks. Concho Resources, Inc. is up 9.04% in the last 3-month period. Year-to-Date the stock performance stands at 42.44%.
Concho Resources (NYSE:CXO): The stock opened at $133.80 on Tuesday but the bulls could not build on the opening and the stock topped out at $134.19 for the day. The stock traded down to $131.05 during the day, due to lack of any buying support eventually closed down at $132.27 with a loss of -0.53% for the day. The stock had closed at $132.97 on the previous day. The total traded volume was 1,438,306 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.