Scotiabank sets price targets on eight US oil and gas producers
Scotiabank published price targets and ratings on eight North American producers, from $27 a share for Northern Oil to $217 for Gulfport Energy.
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what happened
Scotiabank analysts published price targets for eight companies that produce oil and gas in the United States. The targets are $44 a share for APA, $46 for Antero Resources, $61 for Devon Energy, $54 for EQT, $217 for Gulfport Energy, $27 for Northern Oil, $39 for SM Energy and $54 for Viper Energy.
The bank also initiated coverage of APA and Northern Oil with Sector Perform ratings, and of Antero Resources, Devon Energy and Gulfport Energy with Sector Outperform ratings. For EQT, SM Energy and Viper Energy, only price targets were given, with no ratings listed.
why it matters
For energy investors, the note shows how one large bank values mid-sized shale producers. The spread between targets, from $27 to $217, is wide, which makes direct comparison difficult. Targets from a single brokerage reflect one analyst's view and do not forecast where shares or oil and gas prices will move.
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prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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