Northern Oil & Gas (NOG) Update - Nov 23

[dan_s]

Wells Fargo Sticks to Their Buy Rating for Northern Oil And Gas
Investing.com: Nov 23, 2021 07:51AM ET

Wells Fargo (NYSE:WFC) analyst Nitin Kumar CFA maintained a Buy rating on Northern Oil And Gas (NYSE:NOG) on Friday, setting a price target of $32, which is approximately 54.81% above the present share price of $20.67. < This compares to my current valuation of $38 for NOG.

NOG is currently in our Small-Cap Growth Portfolio, but it is near the top of my list for a promotion to our Sweet 16 in 2022. Through strategic acquisitions, NOG is now on track to report 60% year-over-year production growth in 2021. Based on my forecast, the Company's operating cash flow will increase from $448 million in 2021 to over $675 million in 2022. We will be publishing an updated profile on NOG in early December.

Kumar CFA expects Northern Oil And Gas to post earnings per share (EPS) of $0.14 for the fourth quarter of 2021.

The current consensus among 5 TipRanks analysts is for a Strong Buy rating of shares in Northern Oil And Gas, with an average price target of $35.4.
The analysts price targets range from a high of $43 to a low of $30. < Raymond James' price target is $38 and Truist Financial's price target is $40.

In its latest earnings report, released on 09/30/2021, the company reported a quarterly revenue of $259.67 million and a net profit of $155.13 million. The company's market cap is $1.37 billion.

According to TipRanks.com, Wells Fargo analyst Nitin Kumar CFA is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 12.1% and a 72.73% success rate.

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.