RBC Capital Downgrades Northern Oil and Gas (NOG) to Sector Perform

RBC Capital analyst Scott Hanold downgraded Northern Oil and Gas (NYSE: NOG) from Outperform to Sector Perform with a price target of $45.00 (from $43.00).

The analyst comments: "We moved our NOG rating to Sector Perform from Outperform. We are constructive on the company's outlook, but see relative valuation inline-to-above peers. NOG scaled and diversified operations through acquisitions, which improved the duration and stability of its outlook and investors have taken notice. This has moved the valuation higher compared to a prior and historical discount. Recent acquisitions also increased leverage to above peers, although we think it is manageable."

For an analyst ratings summary and ratings history on Northern Oil and Gas click here. For more ratings news on Northern Oil and Gas click here.

Shares of Northern Oil and Gas closed at $41.08 yesterday.

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