Zacks Investment Research downgraded shares of Exco Resources Inc. (NYSE:XCO) from a buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “EXCO Resources, Inc. is an independent oil and natural gas company engaged in the acquisition, development and exploitation of onshore North American oil and natural gas properties. EXCO targets acquisitions of onshore, North American oil and natural gas properties, with particular emphasis on Appalachia, Eastern and Western Texas, Mid Continent and the Rocky Mountain regions. The Company’s primary goal is to build value for our shareholders by acquiring quality properties and to enhance the value of assets through control of operations, property development and reduction of costs. “

Shares of Exco Resources (NYSE:XCO) opened at 0.9583 on Wednesday. Exco Resources has a one year low of $0.51 and a one year high of $1.94. The firm’s market capitalization is $267.16 million. The stock’s 50 day moving average price is $1.22 and its 200 day moving average price is $1.20.

Exco Resources (NYSE:XCO) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The company earned $54.22 million during the quarter, compared to the consensus estimate of $51.65 million. The company’s revenue for the quarter was down 42.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) EPS. Analysts expect that Exco Resources will post ($0.27) EPS for the current fiscal year.

In related news, CEO Harold L. Hickey sold 71,356 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $1.21, for a total value of $86,340.76. Following the completion of the sale, the chief executive officer now owns 1,207,183 shares in the company, valued at $1,460,691.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Principal Opportunities Fu Ocm sold 7,400,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $1.25, for a total value of $9,250,000.00. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates increased its stake in Exco Resources by 1.3% in the second quarter. Raymond James & Associates now owns 346,010 shares of the company’s stock worth $450,000 after buying an additional 4,550 shares in the last quarter. BlackRock Investment Management LLC increased its stake in shares of Exco Resources by 1.3% in the second quarter. BlackRock Investment Management LLC now owns 611,743 shares of the company’s stock valued at $795,000 after buying an additional 7,960 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Exco Resources by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 522,276 shares of the company’s stock valued at $679,000 after buying an additional 8,274 shares during the period. National Planning Corp increased its stake in shares of Exco Resources by 10.3% in the first quarter. National Planning Corp now owns 93,500 shares of the company’s stock valued at $169,000 after buying an additional 8,700 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Exco Resources by 1.4% in the first quarter. Geode Capital Management LLC now owns 1,118,378 shares of the company’s stock valued at $1,106,000 after buying an additional 15,479 shares during the period. Institutional investors and hedge funds own 64.93% of the company’s stock.

About Exco Resources

EXCO Resources, Inc (EXCO) is an oil and natural gas company. The Company is 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 Company’s principal operations are conducted in certain United States oil and natural gas areas, including Texas, Louisiana and the Appalachia region.

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