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Concho Resources (CXO) in Focus: Stock Moves 8.2% Higher

Zacks Equity Research

Concho Resources Inc. CXO was a big mover last session, as the company saw its shares rise more than 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $66.64 –$103 in the past one-month time frame, witnessed a sharp increase yesterday.

The company has seen 13 negative estimate revisions in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Concho Resources currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%. 

Concho Resources Inc. Price

Concho Resources Inc. Price

Concho Resources Inc. price | Concho Resources Inc. Quote

Investors interested in the Oils-Energy sector may consider Delek Logistics Partners, LP DKL, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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