Major Oil & Gas Stocks Rallying (XCO, CHK, SWN, HK)
EXCO Resources, Inc. (NYSE:XCO) soared 30.41% to $19.34 on an unusual volume of 39.25 million share. The company announced today that its Chairman and Chief Executive Officer, Douglas H. Miller, has submitted to the Board of Directors a proposal to purchase all of the outstanding shares of stock of the Company not already owned by Mr. Miller for a cash purchase price of $20.50 per share.
Chesapeake Energy Corporation (NYSE:CHK) added 1.66% to $22.04 on over a volume of 7.57 million shares. The stock touched an intraday low and high of $21.97 and $22.23 respectively. The stock has been moving within a range of $19.62-$29.22 over the past 52-weeks.So far in this year the stock has plunged 16.35%. Chesapeake Energy Corporation (Chesapeake) is a producer of natural gas in the United States.
Southwestern Energy Company (NYSE:SWN) also spurted 3.25% to $34.94 on an unusual volume of 4.88 million shares. Late Friday, the company said its third-quarter earnings rose 36% to $160.7 million, or 46 cents a share, from $118.3 million, or 34 cents a share, in the year-ago period. Revenue rose to $682.2 million, from $503 million. Southwestern beat the Wall Steet earnings target of 45 cents a share, and the revenue target of $587 million, according to a survey by FactSet Research.
Petrohawk Energy Corporation (NYSE:HK) jumped 3.83% to $17.64 on a volume of 4.36 million shares. Petrohawk Energy Corporation is an independent oil and natural gas company engaged in the exploration, development and production of predominately natural gas properties located onshore in the United States. The stock touched an intraday low and high of $17.50 and $18.00 respectively. The stock has been moving within a range of $13.89-$27.36 over the past 52-weeks.So far in this year the stock has plunged 28.12%.