Northland Securities analyst Jeff Grampp reiterated a Buy rating on Northern Oil And Gas (NOG) today and set a price target of $5. The company’s shares closed yesterday at $2.31.
Grampp said:
“We reiterate our Outperform rating and $5 PT. Expectations: NOG reported 1Q19 Adjusted EBITDA of $105MM, below consensus of $111MM and our estimate of $108MM due to lower realized prices. Production of 34.6 MBOEPD (82% oil) was higher than consensus of 33.5 MBOEPD and our estimate of 33.4 MBOEPD (84% oil) but realized prices of $46.64/BOE were lower than our estimate of $48.85/BOE due to weaker natural gas price realizations and a lower oil mix.”
According to TipRanks.com, Grampp ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.3% and a 37.5% success rate. Grampp covers the Basic Materials sector, focusing on stocks such as Sundance Energy Australia, Penn Virginia Corporation, and SilverBow Resources Inc.
Northern Oil And Gas has an analyst consensus of Moderate Buy, with a price target consensus of $5.
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The company has a one-year high of $4.49 and a one-year low of $1.87. Currently, Northern Oil And Gas has an average volume of 4.91M.
Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock.
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Northern Oil & Gas, Inc. engages in the acquisition, exploration, development, and production of crude oil and natural gas properties. It focuses on the Bakken and Three Forks formation within the Williston Basin in North Dakota and Montana. The company was founded on March 20, 2007 and is headquartered in Minnetonka, MN.
