Global Hunter Securities Downgrades Kodiak Oil & Gas (KOG) to Neutral; New Year - More Operational Issues
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Price: $6.56 --0%
Rating Summary:
11 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Global Hunter Securities downgraded Kodiak Oil & Gas (NYSE: KOG) from Accumulate to Neutral, price target cut from $12.50 to $10.
Analyst, Philip McPherson, said, "KOG reported 4Q11 production volumes of 7,195 Boepd, significantly below our estimate of 14,720 Boepd. Part of the miss was due to timing on a 3,000 Boepd acquisition, but the majority was due to six wells that experienced mechanical issues coupled with wells needing pumps and/or additional workovers. We are lowering our rating to Neutral and our price target to $10.00, in light of these operational issues, which seem to be more of a norm for Kodiak rather than one-time exceptions."
For an analyst ratings summary and ratings history on Kodiak Oil & Gas click here. For more ratings news on Kodiak Oil & Gas click here.
Shares of Kodiak Oil & Gas closed at $9.04 yesterday.
Analyst, Philip McPherson, said, "KOG reported 4Q11 production volumes of 7,195 Boepd, significantly below our estimate of 14,720 Boepd. Part of the miss was due to timing on a 3,000 Boepd acquisition, but the majority was due to six wells that experienced mechanical issues coupled with wells needing pumps and/or additional workovers. We are lowering our rating to Neutral and our price target to $10.00, in light of these operational issues, which seem to be more of a norm for Kodiak rather than one-time exceptions."
For an analyst ratings summary and ratings history on Kodiak Oil & Gas click here. For more ratings news on Kodiak Oil & Gas click here.
Shares of Kodiak Oil & Gas closed at $9.04 yesterday.
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