Canaccord Genuity Reiterates a 'Buy' on Northern Oil and Gas (NOG); Shift to Higher-Impact Wells Driving Completion Variability

Canaccord Genuity reiterates a 'Buy' on Northern Oil and Gas (NYSE: NOG) price target lowered from $33 to $31.

Canaccord analyst, Marcus Talbert, said, "We are reiterating our rating and revising our target price following Northern Oil’s Q3/11 financial results and operational updates. Following the knee-jerk reaction to the quarter, we believe NOG shares offer meaningful upside and leverage to the strong ramp in Williston Basin drilling/production activity. In our view, NOG’s asset base, liquidity position and increasing operational momentum by Bakken operators will provide compelling growth opportunities in 2012."

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 $22.39 yesterday.

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