The firm said it raised its rating on the independent energy company based on the stock's attractive appearance following the company's deal with Whiting Petroleum Corp. (WLL).
Whiting Petroleum agreed to purchase Kodiak for $6 billion in stock and debt, creating the largest producer in the Bakken shale oil formations in North Dakota.
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Shares of Kodiak Oil are up 0.74% to $15.02 in pre-market trading today.
Separately, TheStreet Ratings team rates KODIAK OIL & GAS CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate KODIAK OIL & GAS CORP (KOG) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share, increase in net income, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."