Extraction Oil & Gas Inc (NYSE:XOG) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $11.50, but opened at $11.80. Extraction Oil & Gas shares last traded at $11.87, with a volume of 4,438,683 shares traded.

The energy company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. Extraction Oil & Gas had a return on equity of 2.15% and a net margin of 9.72%. The firm had revenue of $119.80 million during the quarter, compared to analysts’ expectations of $121.15 million. The firm’s revenue for the quarter was up 83.2% compared to the same quarter last year.

Several research analysts recently commented on XOG shares. Wells Fargo & Company cut Extraction Oil & Gas from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 3rd. Zacks Investment Research cut Extraction Oil & Gas from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Barclays PLC restated an “overweight” rating and issued a $22.00 price objective (down previously from $24.00) on shares of Extraction Oil & Gas in a research note on Saturday, April 22nd. Credit Suisse Group restated an “outperform” rating and issued a $25.00 price objective on shares of Extraction Oil & Gas in a research note on Monday, May 8th. Finally, Citigroup Inc. dropped their price objective on Extraction Oil & Gas from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. 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 currently has a consensus rating of “Buy” and an average target price of $22.82.

Hedge funds have recently added to or reduced their stakes in the stock. OZ Management LP acquired a new stake in Extraction Oil & Gas during the first quarter valued at about $309,828,000. FMR LLC raised its stake in Extraction Oil & Gas by 14.8% in the first quarter. FMR LLC now owns 12,944,940 shares of the energy company’s stock valued at $240,129,000 after buying an additional 1,667,142 shares in the last quarter. BlackRock Inc. raised its stake in Extraction Oil & Gas by 16.4% in the second quarter. BlackRock Inc. now owns 11,434,469 shares of the energy company’s stock valued at $153,792,000 after buying an additional 1,612,047 shares in the last quarter. Wellington Management Group LLP raised its stake in Extraction Oil & Gas by 203.2% in the first quarter. Wellington Management Group LLP now owns 7,062,142 shares of the energy company’s stock valued at $131,002,000 after buying an additional 4,732,639 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Extraction Oil & Gas by 98.6% in the first quarter. Vanguard Group Inc. now owns 4,146,115 shares of the energy company’s stock valued at $76,911,000 after buying an additional 2,058,376 shares in the last quarter.

The stock’s 50 day moving average is $12.63 and its 200-day moving average is $15.72.

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Extraction Oil & Gas Company Profile

Extraction Oil & Gas, Inc, formerly Extraction Oil & Gas, LLC, is an energy company. It is focused on the acquisition, development and production of oil, natural gas and natural gas liquids (NGL) reserves in the Rocky Mountains, primarily in the Wattenberg Field of the Denver-Julesburg Basin (the DJ Basin) of Colorado.

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