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Concho Resources Stock: Outlook for Next Week

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Concho Resources’ implied volatility

On February 10, 2017, Concho Resources’ (CXO) implied volatility was ~28.3%, which was 3.6% lower than its 15-day average of ~29.3%.

Concho Resources’ peers Apache (APA) and Sanchez Energy (SN) have implied volatilities of ~28.0% and ~60.0%, respectively.

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Forecasting CXO’s stock price range

Based on Concho Resources’ implied volatility and assuming a normal distribution of stock prices and one standard deviation with a probability of 68.2%, CXO stock could close between $137.50 and $148.72 in the next seven days.

In the next part of this series, we’ll look at analysts’ price targets for CXO for the next 12 months.

 

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