In a report issued on May 3, Gabriele Sorbara from Williams Capital reiterated a Buy rating on Extraction Oil & Gas (XOG), with a price target of $8. The company’s shares closed yesterday at $4.56, close to its 52-week low of $3.14.
According to TipRanks.com, Sorbara is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.4% and a 35.0% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Oasis Petroleum Inc, and Carrizo Oil & Gas.
Extraction Oil & Gas has an analyst consensus of Strong Buy, with a price target consensus of $8.75.
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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 $98.01 million. In comparison, last year the company had a GAAP net loss of $52 million.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of XOG in relation to earlier this year.
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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.
