EXCO Resources Inc (XCO) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $-0.05 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.07. The company posted revenue of $54.00 million in the period. The company’s revenue was down -42.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.
EXCO Resources Inc opened for trading at $1.33 and hit $1.4 on the upside on Friday, eventually ending the session at $1.38, with a gain of 3.76% or 0.05 points. The heightened volatility saw the trading volume jump to 27,90,689 shares. Company has a market cap of $390 M.
In a different news, on Jul 7, 2016, Harold H Jameson (Chief Operating Officer) sold 29,799 shares at $1.21 per share price. According to the SEC, on Jul 7, 2016, Harold L Hickey (CEO & President) sold 71,356 shares at $1.21 per share price. On Jul 7, 2016, Richard Alan Burnett (CFO & Vice President) sold 32,839 shares at $1.21 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.