Strong Upward Pre-Market Activity For Concho Resources (CXO)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Concho Resources ( CXO) as a pre-market leader candidate. In addition to specific proprietary factors, Trade-Ideas identified Concho Resources as such a stock due to the following factors:

  • CXO has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $151.3 million.
  • CXO traded 13,156 shares today in the pre-market hours as of 9:30 AM.
  • CXO is up 5.8% today from Friday's close.

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More details on CXO:

Concho Resources Inc., an independent oil and natural gas company, acquires, develops, and explores for oil and natural gas properties in the Unites States. The company's principal operating areas are located in the Permian Basin of southeast New Mexico and West Texas. CXO has a PE ratio of 25.9. Currently there are 15 analysts that rate Concho Resources a buy, no analysts rate it a sell, and 5 rate it a hold.

The average volume for Concho Resources has been 1.5 million shares per day over the past 30 days. Concho has a market cap of $15.2 billion and is part of the basic materials sector and energy industry. The stock has a beta of 1.11 and a short float of 6.3% with 5.41 days to cover. Shares are up 24.9% year-to-date as of the close of trading on Friday.

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