Concho Resources Inc. (CXO) is an interesting player in the Basic Materials space, with a focus on Oil & Gas Drilling & Exploration. The stock has been active on the tape, currently trading at $133.86, up from yesterday’s close by 3.26%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.Fundamental Analysis
Concho Resources Inc. (CXO) currently trades with a market capitalization of $19.77 Billion. That value represents a market adjusting for revenues that have been growing by 54.74 % on a quarterly year/year basis as of the company’s last quarterly report.
You can get a sense of how sustainable that is by a levered free cash flow of -$777 Million over the past twelve months. Generally speaking, earnings are expected to grow in coming quarters. Analysts are forecasting earnings of $0.94 on a per share basis this quarter. Perhaps, that suggests something about why 1.76% of the outstanding share supply is held by institutional investors.
It’s important to check the technicals to get a sense of how CXO has been acting. Looking at the stock’s movement on the chart, Concho Resources Inc. recorded a 52-week high of $163.11. It is now trading 29.25% off that level. The stock is trading $146.31 its 50-day moving average by 12.45%. The stock carved out a 52-week low down at $106.73.
In recent action, Concho Resources Inc. (CXO) has made a move of -11.09% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 14.11, and it’s gotten there by action that has been less volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 8.98% with $147.44 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of CXO.