BidaskClub Downgrades Extraction Oil & Gas (NASDAQ:XOG) to Strong Sell

BidaskClub downgraded shares of Extraction Oil & Gas (NASDAQ:XOG) from a sell rating to a strong sell rating in a research report report published on Tuesday morning, BidAskClub reports.

Other research analysts have also recently issued reports about the company. Wells Fargo & Co began coverage on Extraction Oil & Gas in a research report on Monday, May 20th. They set a market perform rating and a $8.00 price target for the company. Zacks Investment Research upgraded Extraction Oil & Gas from a strong sell rating to a hold rating in a research report on Saturday, April 27th. KeyCorp began coverage on Extraction Oil & Gas in a research report on Tuesday, May 28th. They set a sector weight rating for the company. ValuEngine upgraded Extraction Oil & Gas from a sell rating to a hold rating in a research report on Thursday, August 1st. Finally, Cowen began coverage on Extraction Oil & Gas in a research report on Tuesday, April 9th. They set a market perform rating and a $6.00 price target for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $11.31.

Extraction Oil & Gas stock opened at $4.07 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.35 and a quick ratio of 0.32. Extraction Oil & Gas has a 52 week low of $3.04 and a 52 week high of $12.91. The business’s 50-day moving average price is $3.95.

Extraction Oil & Gas (NASDAQ:XOG) last announced its quarterly earnings results on Thursday, August 1st. The energy company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). The company had revenue of $222.10 million for the quarter, compared to analysts’ expectations of $217.03 million. Extraction Oil & Gas had a net margin of 10.89% and a negative return on equity of 3.82%. The firm’s revenue was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 earnings per share. On average, equities analysts anticipate that Extraction Oil & Gas will post -0.27 EPS for the current fiscal year.

In other news, Chairman Mark Erickson sold 70,024 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $4.08, for a total value of $285,697.92. Following the completion of the sale, the chairman now directly owns 1,614,542 shares in the company, valued at $6,587,331.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.20% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. purchased a new stake in shares of Extraction Oil & Gas in the fourth quarter valued at approximately $56,000. Signition LP acquired a new stake in shares of Extraction Oil & Gas in the second quarter worth approximately $61,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Extraction Oil & Gas in the first quarter worth approximately $72,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Extraction Oil & Gas in the fourth quarter worth approximately $75,000. Finally, Teza Capital Management LLC acquired a new stake in shares of Extraction Oil & Gas in the second quarter worth approximately $119,000. Institutional investors and hedge funds own 98.76% of the company’s stock.

Extraction Oil & Gas Company Profile

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. The company also engages in the construction and support of midstream assets to gather, process, and produce crude oil and gas.

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Analyst Recommendations for Extraction Oil & Gas (NASDAQ:XOG)

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