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UPDATE: BMO Capital Markets Downgrades Northern Oil and Gas to Market Perform on Risk/Reward

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BMO Capital Markets downgraded Northern Oil and Gas (NYSE: NOG) from Outperform to Market Perform and maintained an $18.00 price target.

BMO Capital Markets noted, "We are downgrading Northern Oil shares to Market Perform from Outperform as the stock is close to our $18 per share price target and our view is that Street production estimates are too high given slowing of Bakken activity and timing of Northern's net well completions. … In addition to our view of downside risk to production estimates we think other catalysts such as unveiling of the Big Sky prospect results and revisiting of the MLP strategy in mid-2013 will provide minimal upside."

Northern Oil and Gas closed at $17.01 on Wednesday.

Latest Ratings for NOG

DateFirmActionFromTo
Oct 2017Imperial CapitalInitiates Coverage OnIn-Line
Dec 2016RBC CapitalDowngradesOutperformSector Perform
May 2016WunderlichMaintainsHold

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Posted-In: BMO Capital MarketsAnalyst Color Downgrades Analyst Ratings

 

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