Wall Street brokerages forecast that Extraction Oil & Gas Inc (NASDAQ:XOG) will report sales of $234.47 million for the current quarter, according to Zacks. Three analysts have provided estimates for Extraction Oil & Gas’ earnings, with the highest sales estimate coming in at $255.80 million and the lowest estimate coming in at $220.60 million. Extraction Oil & Gas posted sales of $221.92 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.7%. The company is expected to issue its next earnings results on Thursday, May 7th.
According to Zacks, analysts expect that Extraction Oil & Gas will report full-year sales of $939.30 million for the current fiscal year, with estimates ranging from $860.00 million to $1.00 billion. For the next fiscal year, analysts anticipate that the company will report sales of $957.51 million, with estimates ranging from $927.00 million to $989.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Extraction Oil & Gas.
Several brokerages have recently issued reports on XOG. Zacks Investment Research raised Extraction Oil & Gas from a “hold” rating to a “buy” rating and set a $1.75 target price on the stock in a report on Saturday, February 8th. Credit Suisse Group cut Extraction Oil & Gas from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 22nd. Stephens cut Extraction Oil & Gas from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $3.00 to $1.00 in a report on Friday, March 20th. Cowen cut Extraction Oil & Gas from a “market perform” rating to an “underperform” rating in a report on Wednesday, March 11th. Finally, Royal Bank of Canada cut Extraction Oil & Gas from an “outperform” rating to a “sector perform” rating in a report on Monday, March 9th. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.70.
A number of hedge funds and other institutional investors have recently modified their holdings of XOG. UBS Group AG increased its stake in Extraction Oil & Gas by 130,134.1% during the fourth quarter. UBS Group AG now owns 6,605,474 shares of the energy company’s stock worth $14,003,000 after acquiring an additional 6,600,402 shares during the last quarter. Credit Suisse AG increased its stake in Extraction Oil & Gas by 1,231.8% during the fourth quarter. Credit Suisse AG now owns 5,379,707 shares of the energy company’s stock worth $11,405,000 after acquiring an additional 4,975,770 shares during the last quarter. Lexington Partners L.P. bought a new stake in Extraction Oil & Gas during the fourth quarter worth approximately $4,734,000. Norges Bank bought a new stake in Extraction Oil & Gas during the fourth quarter worth approximately $1,059,000. Finally, Barclays PLC increased its stake in Extraction Oil & Gas by 51.4% during the third quarter. Barclays PLC now owns 1,401,023 shares of the energy company’s stock worth $4,119,000 after acquiring an additional 475,554 shares during the last quarter.
Shares of XOG stock opened at $0.58 on Thursday. Extraction Oil & Gas has a 12-month low of $0.21 and a 12-month high of $5.67. The company has a current ratio of 0.48, a quick ratio of 0.40 and a debt-to-equity ratio of 3.06. The stock’s 50-day moving average price is $0.75 and its 200-day moving average price is $1.83. The stock has a market capitalization of $78.41 million, a price-to-earnings ratio of -0.06 and a beta of 2.54.
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. 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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