Jefferies Sticks to Its Hold Rating for Extraction Oil & Gas


In a report released today, Mark Lear from Jefferies reiterated a Hold rating on Extraction Oil & Gas (NASDAQ: XOG), with a price target of $16. The company’s shares closed yesterday at $13.82.

According to TipRanks.com, Lear is a 3-star analyst with an average return of 1.8% and a 50.6% success rate. Lear covers the Basic Materials sector, focusing on stocks such as CNX Resources Corporation, Whiting Petroleum Corp, and Jagged Peak Energy Inc.

Currently, the analyst consensus on Extraction Oil & Gas is a Strong Buy with an average price target of $19.

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Based on Extraction Oil & Gas’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $52 million. In comparison, last year the company had a net profit of $7.24 million.

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Extraction Oil & Gas, Inc. operates as an independent oil and gas company, which focuses on the acquisition, development and production of oil, natural gas and NGL reserves. The company was founded by Mark A. Erickson, Matthew Owens and Jesse Silva in December 2012 and is headquartered in Denver, CO.

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