Barclays Downgrades EXCO Resources to Underweight (XCO)
EXCO Resources (NYSE:XCO) was downgraded by equities researchers at Barclays from an “equal weight” rating to an “underweight” rating in a research report issued on Monday, American Banking & Market News reports. They currently have a $5.00 price target on the stock, down from their previous price target of $8.00. Barclays’ price target suggests a potential upside of 0.40% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Tudor Pickering downgraded shares of EXCO Resources from a “hold” rating to a “sell” rating in a research note to investors on Friday, January 24th. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of EXCO Resources in a research note to investors on Monday, December 2nd. They set a “sell” rating on the stock. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. EXCO Resources currently has an average rating of “Hold” and a consensus target price of $5.00.
Shares of EXCO Resources (NYSE:XCO) traded down 2.92% during mid-day trading on Monday, hitting $4.98. The stock had a trading volume of 9,011,650 shares. EXCO Resources has a 1-year low of $4.60 and a 1-year high of $8.9021. The stock has a 50-day moving average of $5.13 and a 200-day moving average of $6.3. The company’s market cap is $1.071 billion.
EXCO Resources, Inc (NYSE:XCO) is an independent oil and natural gas company engaged in the exploration, exploitation, development and production of onshore the United States oil and natural gas properties with a focus on shale resource plays.
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