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| Exco Resources Inc. Shares Slide 20.6% Below Mulhern's Purchase PriceBy Energy Stock Channel Staff, Monday, November 21, 12:10 PM ET
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:
According to the ETF Finder at ETF Channel, XCO makes up 2.70% of the First Trust ISE-Revere Natural Gas Index Fund ETF (AMEX:FCG) which is trading lower by about 4.1% on the day Monday. See what other ETFs contain XCO » 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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One Reason For Insiders to Buy
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