XCO Crosses Critical Technical Indicator Monday, December 31, 12:05 PM ET, by Market News Video Staff In trading on Monday, shares of Exco Resources Inc. (XCO) entered into oversold territory, changing ...
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 7, Exco Resources Inc.'s Director, Mark F Mulhern, invested $51,992.80 into 4,000 shares of XCO, for a cost per share of $13.00. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Monday, bargain hunters could buy shares of Exco Resources Inc. (NYSE:XCO) and achieve a cost basis 20.6% cheaper than Mulhern, with shares changing hands as low as $10.32 per share. Exco Resources Inc. shares are currently trading down about 4.3% on the day. The chart below shows the one year performance of XCO shares, versus its 200 day moving average:
Looking at the chart above, XCO's low point in its 52 week range is $9.33 per share, with $21.04 as the 52 week high point — that compares with a last trade of $10.33. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
XCO operates in the Oil & Gas Exploration & Production sector, among companies like Noble Corp (NYSE:NE) which is off about 2.4% today, and Concho Resources Inc (NYSE:CXO) trading lower by about 3.2%. Below is a three month price history chart comparing the stock performance of XCO, versus NE and CXO.
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