EXCO Resources touches all-time high on oil prices

By Associated Press
June 27, 2008 | Comments (0)

Recs

0

Special Offer!

Jan 12, Motley Fool Pro will accept new members for 10 days only. Your spot is reserved! To learn more, click below.

Motley Fool Pro

Shares of EXCO Resources Inc. advanced to an all-time high on Friday as crude-oil prices touched a fresh record and a Deutsche Bank analyst raised her price target on the oil and natural gas company.

Light, sweet crude for August delivery rose as high as $142.99 a barrel on the New York Mercantile Exchange before pulling back to settle up 57 cents at a record $140.21.

Meanwhile, Deutsche Bank's Shannon Nome raised her price target on Exco to $38 from $35 in a client note, citing the higher price of oil. The new target implies an expected return of 4 percent on Friday's close.

Shares of Dallas-based EXCO rose $1.54, or 4.4 percent, to end the day at $36.45. In intraday trading, the stock advanced to a record high of $37.09.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

DocumentId: 674855, ~/articles/articlehandler.aspx, 1/8/2009 4:44:53 AM

Sign up for FREE Motley Fool site access to keep reading:

“EXCO Resources touches all-time high on oil prices”

Signing up allows you to comment on articles and on the discussion boards.

It's completely FREE and will take only 10 seconds.

Privacy / Legal Information

We will use your email address only to keep you informed about updates to our web site and about other products and services that we think might interest you. The Motley Fool respects your privacy. Please read our Privacy Statement

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.