EXCO Resources Inc (XCO) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $-0.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $-0.12. The company posted revenue of $52.00 million in the period, compared to analysts expectations of $49.40 million. The company’s revenue was down -39.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.07 EPS.
EXCO Resources Inc closed down -0.09 points or -5.92% at $1.43 with 28,82,219 shares getting traded on Monday. Post opening the session at $1.52, the shares hit an intraday low of $1.3 and an intraday high of $1.55 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Mar 15, 2016, William L Boeing (VP, General Counsel, Secretary) sold 75,000 shares at $1.61 per share price. According to the SEC, on Mar 9, 2016, Richard Alan Burnett (CFO & Chief Accounting Officer) sold 64,241 shares at $1.51 per share price. On Mar 9, 2016, Harold H Jameson (Chief Operating Officer) sold 16,342 shares at $1.51 per share price, according to the Form-4 filing with the securities and exchange commission.
EXCO Resources Inc. is an oil and natural gas company engaged in the exploration exploitation acquisition development and production of onshore United States oil and natural gas properties with a focus on shale resource plays. The Companys principal operations are conducted in certain United States oil and natural gas areas including Texas Louisiana and the Appalachia region. The Company focuses on the development of its core areas. This includes a portfolio of both oil and natural gas assets that provide the Company the optionality to allocate capital to enhance its returns under various commodity price environments. The Company holds acreage positions in three shale plays in the United States: East Texas and North Louisiana where it holds around 85300 net acres in the Haynesville and Bossier shales; South Texas where it holds approximately 52900 net acres in the Eagle Ford shale; and Appalachia where it holds around 157000 net acres prospective in the Marcellus shale.