Extraction Oil & Gas Receives a Buy from Credit Suisse

By Austin Angelo

Credit Suisse analyst Mark Lear initiated coverage with a Buy rating on Extraction Oil & Gas (NASDAQ: XOG) today and set a price target of $30. The company’s shares opened today at $20.51.

According to TipRanks.com, Lear is a 5-star analyst with an average return of 11.6% and a 63.0% success rate. Lear covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Oil States International, and Whiting Petroleum Corp.

Currently, the analyst consensus on Extraction Oil & Gas is Moderate Buy and the average price target is $27, representing a 31.6% upside.

In a report released today, KeyBanc also initiated coverage with a Buy rating on the stock with a $25 price target.

The company has a one year high of $23.12 and a one year low of $19.51. Currently, Extraction Oil & Gas has an average volume of 2.11M.

Extraction Oil & Gas, Inc. operates as an independent oil and gas company, focused 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.