NEW YORK (TheStreet) -- EXCO Resources (XCO - Get Report) shares are down -7.4% to $4.58 on Wednesday following the release of the company's second quarter earnings results.
The independent oil and gas producer reported an adjusted net income of 3 cents per diluted share, 1 cent lower than analyst expected, on revenue of $183 million that was ahead of analysts $179.1 million estimates.
TheStreet Ratings team rates EXCO RESOURCES INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate EXCO RESOURCES INC (XCO) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and a generally disappointing performance in the stock itself."
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