EXCO Resources Inc.
) has increased its quarterly common stock dividend by 25.0% to 5
cents per share (20 cents per share annualized). The new dividend
will be paid on Mar 29, 2013 to shareholders of record as of Mar
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The hike reflects continued strength in the company's
performance, backed by solid operating results and investments,
along with diligent execution of its strategic plans. We believe
that the company will be able to generate sufficient cash flows
for its shareholders in the coming years, backed by strong
operating performances and good management decisions. Prior to
this revision, in Aug 2010, the company had increased its
quarterly dividend by 33.0%.
As of Dec 31, 2012, the company had $45.6 million in cash and
cash equivalents and a debt of $1,849.0 million. Moreover, it
paid common stock dividends amounting to $34.4 million during
We believe that the increase in dividend will boost investors'
confidence in the stock, thereby driving share value.
EXCO is an independent oil and natural gas company. Its main
operations are in East Texas, North Louisiana, Appalachia and the
Permian. The company is involved in exploration, exploitation,
development and production of onshore oil and natural gas
As is the case with other independent exploration and production
(E&P) companies, EXCO's results are directly exposed to oil
and gas prices, which are inherently volatile and subject to
complex market forces.
The company currently carries a Zacks Rank #3 (Hold). But there
are other E&P companies that are expected to perform well in
the coming 1 to 3 months. These include
Linn Co LLC
) with a Zacks Rank #1 (Strong Buy) as well as
BreitBurn Energy Partners L.P.
) with Zacks Rank #2 (Buy).