Posts for Ticker ‘TXCO’

Small-cap Oil Company Shrinks (TXCO)

Windmill_2_lgSmall-cap oil producer TXCO Resources Inc. (NASDAQ:TXCO) announced a few days before the holiday that it would reduce staff by 20%, slow its fourth-quarter drilling operations, and shut-in five wells and two steam generators in response to the "unstable financial and commodity environment we currently face." The company also expects to announce lower 2009 capital expenditures in January and to seek buyers for some assets and partners in joint-ventures "to further enhance liquidity levels."

This is, by now, a familiar story. TXCO shares are trading this morning at $1.37, just a penny above the 52-week low and more than 90% off the 52-week high.

Paul Ausick
December 26, 200

Posted on: December 26, 2008 – 12:13 pm in Oil & Gas,

Top Pre-Market Analyst Downgrades (BRY, BBG, BG, CBST, GSX, KNL, WFR, SIRO, TXCO)

These are the top pre-market downgrades from Wall Street analysts this Friday morning:

  • Berry Petroleum (BRY) Cut to Market Perform at Morgan Keegan.
  • Bill Barrett (BBG) Cut to Market Perform at Morgan Keegan.
  • Bunge (BG) Cut to Underperform at Merrill Lynch.
  • Cubist Pharma (CBST) Cut to Perform at Oppenheimer.
  • Gasco Energy (GSX) Cut to Market Perform at Morgan Keegan.
  • Knoll (KNL) Cut to Sell at Goldman Sachs.
  • MEMC (WFR) Started as Underweight at Morgan Stanley.
  • Sirona Dental (SIRO) Cut to Neutral at Baird.
  • TXCO Resources (TXCO) Cut to Market Perform at Morgan Keegan.

Jon C. Ogg
December 5, 2008

Posted on: December 5, 2008 – 7:32 am in Analyst Calls, , , , , , , , ,

Insiders Still Face Margin Calls (ALD, EXR, PDFS, TLB, TXCO)

Burningmoney_2Margin calls from corporate insiders to pay personal obligations are still coming, although last week’s pace into this week does not look as severe as in prior periods we have covered.  We have seen such filings from Allied Capital Corp. (NYSE: ALD), Extra Space Storage Inc. (NYSE: EXR), PDF Solutions Inc.’s (NASDAQ: PDFS), Talbots Inc. (NYSE: TLB), and TXCO Resources Inc. (NASDAQ: TXCO).  These are likely only some of the insider sales that have gone throughas a result of the margin calls.  As you can imagine, these rarelyoccur because things are going so well.

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Posted on: November 19, 2008 – 12:02 pm in Insider Activity, , , , ,