Northern Oil And Gas (NOG) Gets a Buy Rating from Northland Securities


Northland Securities analyst Jeff Grampp maintained a Buy rating on Northern Oil And Gas (NOG) today and set a price target of $5. The company’s shares closed yesterday at $2.03, close to its 52-week low of $1.87.

Grampp noted:

“We think long-term oriented shareholders have a fantastic opportunity in buying shares of NOG at these levels given the expected near and medium term events that, in our view, will transform the company into a leading small-cap, return on and return of capital, E&P. We believe not enough investors are focusing on where NOG is heading and accordingly see a valuation gap present in shares. We detail these events below but expect the “Future NOG” to emerge within the next year.”

According to TipRanks.com, Grampp has currently no stars on a ranking scale of 0-5 stars, with an average return of -12.9% and a 22.4% 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 5.18M.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NOG in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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