Extraction Oil & Gas (XOG) Raised to Buy at Zacks Investment Research

Extraction Oil & Gas (NASDAQ:XOG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm presently has a $12.00 price target on the energy company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.25% from the company’s previous close.

According to Zacks, “Extraction Oil & Gas, Inc. is an oil and gas company. It focused on the acquisition, development and production of oil, natural gas and natural gas liquids reserves in the Rocky Mountains, primarily in the Wattenberg Field of the Denver-Julesburg Basin of Colorado. Extraction Oil & Gas, Inc. is based in Denver, United States. “

Several other analysts have also recently issued reports on XOG. BidaskClub cut shares of Extraction Oil & Gas from a “hold” rating to a “sell” rating in a research note on Wednesday, June 20th. Jefferies Financial Group set a $16.00 price objective on shares of Extraction Oil & Gas and gave the company a “hold” rating in a research note on Friday, July 13th. Macquarie cut shares of Extraction Oil & Gas from an “outperform” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research note on Tuesday, August 7th. Williams Capital reissued a “buy” rating and set a $22.00 price objective on shares of Extraction Oil & Gas in a research note on Wednesday, August 8th. Finally, Imperial Capital lowered their price objective on shares of Extraction Oil & Gas from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $19.00.

XOG stock traded up $0.29 during midday trading on Friday, hitting $10.69. The stock had a trading volume of 2,057,099 shares, compared to its average volume of 1,823,685. Extraction Oil & Gas has a 12-month low of $10.04 and a 12-month high of $17.42. The stock has a market capitalization of $1.98 billion, a P/E ratio of 356.33 and a beta of 0.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.37 and a current ratio of 0.41.

Extraction Oil & Gas (NASDAQ:XOG) last announced its quarterly earnings data on Tuesday, August 7th. The energy company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.05). Extraction Oil & Gas had a negative net margin of 11.69% and a positive return on equity of 0.82%. The company had revenue of $260.20 million for the quarter, compared to analysts’ expectations of $234.15 million. Research analysts forecast that Extraction Oil & Gas will post 0.52 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. FMR LLC lifted its holdings in Extraction Oil & Gas by 38.2% in the 2nd quarter. FMR LLC now owns 13,372,996 shares of the energy company’s stock worth $196,450,000 after buying an additional 3,697,918 shares in the last quarter. BlackRock Inc. lifted its holdings in Extraction Oil & Gas by 0.3% in the 1st quarter. BlackRock Inc. now owns 13,042,511 shares of the energy company’s stock worth $149,467,000 after buying an additional 33,221 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Extraction Oil & Gas by 100.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,463,439 shares of the energy company’s stock worth $50,878,000 after buying an additional 1,738,601 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Extraction Oil & Gas in the 2nd quarter worth $31,730,000. Finally, Caymus Capital Partners L.P. lifted its holdings in Extraction Oil & Gas by 75.7% in the 2nd quarter. Caymus Capital Partners L.P. now owns 1,811,194 shares of the energy company’s stock worth $26,606,000 after buying an additional 780,600 shares in the last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.

About Extraction Oil & Gas

Extraction Oil & Gas, Inc, an independent oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquid reserves in the Rocky Mountain region, primarily in the Wattenberg Field of the Denver-Julesburg (DJ) Basin of Colorado. As of December 31, 2017, it had approximately 171,400 net acres of contiguous acreage blocks in the productive areas of the DJ Basin; held approximately 183,300 net acres outside of the Core DJ Basin; had estimated proved reserves of approximately 292.7 MMBoe; and had 1,300 gross producing wells.

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