NEW YORK (TheStreet) -- Exco Resources (XCO)  plummeted 13.6% to $5.70 on Wednesday after reporting disappointing earnings a day earlier.

The Dallas-based oiler reported third-quarter earnings of 4 cents a share on $165.3 million, 14.3% lower than a year earlier. Analysts surveyed by Thomson Reuters had hoped for 10 cents a share on $188.9 million.

The resources company said the sale of its gas production TGGT venture, jointly owned with BG Group, was responsible for lower-than-expected results. The companies sold their stake to Azure Midstream Holdings in a deal worth $910 million earlier in the month.

"We recorded an impairment of our investment in TGGT related to the excess of the carrying value over our share of the expected proceeds from the anticipated sale," the company said, in a press release.

Exco said other significant costs in the quarter included acquisition-related expenses such as the "acceleration of deferred financing costs, transaction costs and transition services".

TheStreet Ratings team rates Exco Resources Inc as a Hold with a ratings score of C-. The team has this to say about its 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 revenue growth, compelling growth in net income and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and weak operating cash flow."