Dividend time for shareholders of EXCO Resources Inc (NYSE:XCO)

Posted by George Brook September 13, 2013 0 Comment 903 views

On Thursday, EXCO Resources (NYSE:XCO) declared its quarterly dividend. Shareholders of record on 23 September will be given the dividend of $0.05/share on 30 September. This represents the dividend of $0.20 on an annualized-basis and a 2.84% yield. September 19 is the ex-dividend date of the dividend.

Analyst opinion

Recently, numerous analysts have commented on the company’s stock. Barclay’s Capital’s analysts have upgraded the price-target of the shares from $5.00 to $.00 on 24 July and have assigned an “equal weight “rating on its stock. Stifel Nicolaus analysts reiterated their “hold” rating on EXCO Resources (NYSE:XCO) shares on 5 July.

BMO Capital Markets’ analysts reiterated their “market perform” rating on the company’s shares on 5 July. Six investment-analysts have assigned a “hold” rating on the stock. The average rating on the stock is a “hold” and the average target-price is $8.33.

The Thursday session

In Thursday’s trading session, EXCO Resources Inc (NYSE:XCO) climbed by 1.01%. The opening price of the company’s shares was $6.95 which rose to an intraday high of $7.20 and then dipped to close at $7.03. More than 2.80 million shares were traded in the Thursday’s trading session while the average volume of shares that were traded over a 30 day period was 2.59 million. The company has a market capitalization of $1.53 billion.

The company

EXCO Resources, Inc. (NYSE:XCO) is an independent Oil & Natural Gas company. It is involved in exploring, exploiting, developing and producing oil and natural gas in onshore properties in the United States. It focuses on shale-resource plays. All its operations are carried out in the U.S Oil & Natural Gas areas such as Appalachia, East Texas, North Louisiana, and West Texas’ Permian Basin. Apart from its Oil & Natural Gas producing operations, the company owns a 50 % stake in 2 midstream joint-ventures situated in North Louisiana Appalachia and East Texas.

About George Brook

George Brook covers money and politics for GDP Insider. George is a veteran journalist who has also covered Congress, national political conventions and presidential politics. George also covers the White House as well as economic and domestic policy for GDP insider. George's reporting has won numerous awards, including two Scripps Howard awards, two National Headliners, two Gerald Loeb Awards, as well as honors from Sigma Delta Chi and the National Press Club.

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