Imperial Capital Initiates Coverage on EXTRACTION O&G (XOG)

Imperial Capital initiated coverage on shares of EXTRACTION O&G (NASDAQ:XOG) in a research note issued to investors on Wednesday. The firm set an “outperform” rating and a $20.00 price target on the energy company’s stock. Imperial Capital’s price target points to a potential upside of 28.62% from the stock’s current price. Imperial Capital also issued estimates for EXTRACTION O&G’s Q4 2017 earnings at ($0.03) EPS, Q1 2018 earnings at $0.00 EPS, Q2 2018 earnings at $0.03 EPS, Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.10 EPS and FY2018 earnings at $0.19 EPS.

XOG has been the subject of several other research reports. Zacks Investment Research downgraded shares of EXTRACTION O&G from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. SunTrust Banks, Inc. set a $21.00 target price on shares of EXTRACTION O&G and gave the stock a “buy” rating in a research note on Thursday, November 2nd. KeyCorp reiterated an “overweight” rating on shares of EXTRACTION O&G in a research note on Wednesday, November 8th. Citigroup Inc. cut their price objective on shares of EXTRACTION O&G from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Finally, Royal Bank Of Canada set a $16.00 target price on shares of EXTRACTION O&G and gave the company a “buy” rating in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $19.83.

EXTRACTION O&G (NASDAQ:XOG) traded up $0.50 during midday trading on Wednesday, reaching $15.55. 1,733,807 shares of the company were exchanged, compared to its average volume of 1,307,441. EXTRACTION O&G has a 1-year low of $11.31 and a 1-year high of $25.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.97 and a quick ratio of 0.92.

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Several institutional investors have recently made changes to their positions in the company. Citigroup Inc. boosted its holdings in EXTRACTION O&G by 147.4% in the second quarter. Citigroup Inc. now owns 8,904 shares of the energy company’s stock worth $120,000 after acquiring an additional 5,305 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of EXTRACTION O&G by 1,416.4% during the first quarter. Legal & General Group Plc now owns 10,084 shares of the energy company’s stock worth $187,000 after purchasing an additional 9,419 shares during the period. Calamos Advisors LLC acquired a new position in EXTRACTION O&G in the third quarter valued at approximately $156,000. BlueCrest Capital Management Ltd acquired a new position in EXTRACTION O&G in the second quarter valued at approximately $144,000. Finally, Great West Life Assurance Co. Can acquired a new position in EXTRACTION O&G in the second quarter valued at approximately $148,000. Hedge funds and other institutional investors own 89.11% of the company’s stock.

EXTRACTION O&G 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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