Northern Oil And Gas (NOG) Receives a Buy from Raymond James

Raymond James analyst John Freeman maintained a Buy rating on Northern Oil And Gas (NOGResearch Report) today and set a price target of $50.00. The company’s shares closed last Monday at $27.00, close to its 52-week high of $27.87.

According to, Freeman is a top 25 analyst with an average return of 35.5% and a 61.3% success rate. Freeman covers the Utilities sector, focusing on stocks such as National Fuel Gas Company, Continental Resources, and Matador Resources.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Northern Oil And Gas with a $44.71 average price target, representing a 75.3% upside. In a report issued on July 15, RBC Capital also maintained a Buy rating on the stock with a $40.00 price target.

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Based on Northern Oil And Gas’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $456 million and GAAP net loss of $207 million. In comparison, last year the company earned revenue of $157 million and had a GAAP net loss of $90.36 million.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NOG in relation to earlier this year.

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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.

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