Northland Securities’ Take on This Canadian Energy Company

By Austin Angelo

Northland Securities analyst Jeff Grampp assigned a Buy rating to Northern Oil And Gas (NOGResearch Report) today and set a price target of $1.50. The company’s shares closed last Tuesday at $0.85.

According to TipRanks.com, Grampp is ranked 0 out of 5 stars with an average return of -35.1% and a 17.0% success rate. Grampp covers the Utilities sector, focusing on stocks such as Sundance Energy Australia, Lonestar Resources US, and Evolution Petroleum.

Currently, the analyst consensus on Northern Oil And Gas is a Moderate Buy with an average price target of $1.33.

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Based on Northern Oil And Gas’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $161 million and GAAP net loss of $108 million. In comparison, last year the company earned revenue of $153 million and had a net profit of $218 million.

Based on the recent corporate insider activity of 67 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.

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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.