Extraction Oil & Gas (XOG) Bonds Trading 2.8% Lower

An issue of Extraction Oil & Gas Inc (NASDAQ:XOG) debt fell 2.8% against its face value during trading on Thursday. The high-yield issue of debt has a 7.375% coupon and is set to mature on May 15, 2024. The debt is now trading at $91.00 and was trading at $95.25 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its stock price.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of Extraction Oil & Gas from a “strong sell” rating to a “sell” rating in a report on Friday, July 27th. Jefferies Financial Group set a $16.00 price target on shares of Extraction Oil & Gas and gave the company a “hold” rating in a report on Friday, July 13th. Macquarie lowered shares of Extraction Oil & Gas from an “outperform” rating to a “neutral” rating and set a $17.00 price target for the company. in a report on Tuesday, August 7th. Williams Capital reissued a “buy” rating and issued a $22.00 price target on shares of Extraction Oil & Gas in a report on Wednesday, August 8th. Finally, Imperial Capital lowered their price target on shares of Extraction Oil & Gas from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $17.27.

XOG stock traded up $0.34 during midday trading on Thursday, reaching $8.33. The company’s stock had a trading volume of 4,815,900 shares, compared to its average volume of 2,043,335. Extraction Oil & Gas Inc has a 52 week low of $7.20 and a 52 week high of $17.42. The stock has a market cap of $1.34 billion, a PE ratio of 277.67 and a beta of 0.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.37 and a current ratio of 0.41.

Extraction Oil & Gas (NASDAQ:XOG) last announced its quarterly earnings data on Tuesday, August 7th. The energy company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.05). Extraction Oil & Gas had a negative net margin of 11.69% and a positive return on equity of 0.82%. The business had revenue of $260.20 million during the quarter, compared to the consensus estimate of $234.15 million. As a group, sell-side analysts predict that Extraction Oil & Gas Inc will post 0.29 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake 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 acquiring an additional 3,697,918 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Extraction Oil & Gas by 60.7% in the third quarter. Victory Capital Management Inc. now owns 3,472,113 shares of the energy company’s stock valued at $39,201,000 after acquiring an additional 1,312,062 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake 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 acquiring an additional 1,738,601 shares during the last quarter. Caymus Capital Partners L.P. boosted its stake 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 acquiring an additional 780,600 shares during the last quarter. Finally, Portolan Capital Management LLC boosted its stake in Extraction Oil & Gas by 47.8% in the second quarter. Portolan Capital Management LLC now owns 1,590,827 shares of the energy company’s stock valued at $23,369,000 after acquiring an additional 514,719 shares during the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

About Extraction Oil & Gas (NASDAQ:XOG)

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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