Brokerages Expect Extraction Oil & Gas Inc (XOG) Will Announce Quarterly Sales of $291.53 Million

Wall Street brokerages forecast that Extraction Oil & Gas Inc (NASDAQ:XOG) will post $291.53 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Extraction Oil & Gas’ earnings, with estimates ranging from $266.60 million to $327.52 million. Extraction Oil & Gas reported sales of $180.86 million during the same quarter last year, which indicates a positive year-over-year growth rate of 61.2%. The company is expected to issue its next earnings report after the market closes on Tuesday, November 6th.

On average, analysts expect that Extraction Oil & Gas will report full-year sales of $1.10 billion for the current financial year, with estimates ranging from $1.02 billion to $1.20 billion. For the next year, analysts expect that the firm will report sales of $1.70 billion, with estimates ranging from $1.54 billion to $1.81 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Extraction Oil & Gas.

Extraction Oil & Gas (NASDAQ:XOG) last issued its quarterly earnings results on Tuesday, August 7th. The energy company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). Extraction Oil & Gas had a positive return on equity of 0.82% and a negative net margin of 11.69%. The business had revenue of $260.20 million for the quarter, compared to analysts’ expectations of $234.15 million.

Several research analysts recently weighed in on the company. BidaskClub raised Extraction Oil & Gas from a “strong sell” rating to a “sell” rating in a research report on Friday, July 27th. Jefferies Financial Group set a $16.00 target price on Extraction Oil & Gas and gave the stock a “hold” rating in a research report on Friday, July 13th. Macquarie lowered Extraction Oil & Gas from an “outperform” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research report on Tuesday, August 7th. Williams Capital reaffirmed a “buy” rating and issued a $22.00 target price on shares of Extraction Oil & Gas in a research report on Wednesday, August 8th. Finally, Imperial Capital cut their target price on Extraction Oil & Gas from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.60.

A number of large investors have recently added to or reduced their stakes in XOG. FMR LLC raised its position in Extraction Oil & Gas by 38.2% in the second quarter. FMR LLC now owns 13,372,996 shares of the energy company’s stock valued at $196,450,000 after purchasing an additional 3,697,918 shares during the period. Victory Capital Management Inc. purchased a new position in Extraction Oil & Gas in the second quarter valued at about $31,730,000. Dimensional Fund Advisors LP raised its position in Extraction Oil & Gas by 100.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,463,439 shares of the energy company’s stock valued at $50,878,000 after purchasing an additional 1,738,601 shares during the period. Canyon Capital Advisors LLC purchased a new position in Extraction Oil & Gas in the second quarter valued at about $17,541,000. Finally, Caymus Capital Partners L.P. raised its position in Extraction Oil & Gas by 75.7% in the second quarter. Caymus Capital Partners L.P. now owns 1,811,194 shares of the energy company’s stock valued at $26,606,000 after purchasing an additional 780,600 shares during the period. 92.32% of the stock is currently owned by institutional investors.

Shares of Extraction Oil & Gas stock traded down $1.67 during trading hours on Tuesday, reaching $8.81. 660,079 shares of the company’s stock were exchanged, compared to its average volume of 1,938,046. Extraction Oil & Gas has a 52-week low of $10.03 and a 52-week high of $17.42. The firm has a market cap of $1.90 billion, a PE ratio of 302.67 and a beta of 0.75. The company has a quick ratio of 0.37, a current ratio of 0.41 and a debt-to-equity ratio of 0.83.

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. 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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Earnings History and Estimates for Extraction Oil & Gas (NASDAQ:XOG)

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