Northern Oil & Gas Price Target Raised to $21.00 at SunTrust (NOG)
Equities researchers at SunTrust hoisted their price objective on shares of Northern Oil & Gas (NYSE:NOG) from $20.00 to $21.00 in a research report issued on Thursday, StockRatingsNetwork.com reports. The firm currently has a “buy” rating on the stock. SunTrust’s price objective suggests a potential upside of 22.74% from the stock’s previous close.
Shares of Northern Oil & Gas (NYSE:NOG) traded up 1.54% on Thursday, hitting $17.11. The stock had a trading volume of 1,645,744 shares. Northern Oil & Gas has a 1-year low of $11.79 and a 1-year high of $19.52. The stock’s 50-day moving average is $12.95 and its 200-day moving average is $13.55. The company has a market cap of $1.078 billion and a price-to-earnings ratio of 19.78.
Northern Oil & Gas (NYSE:NOG) last released its earnings data on Thursday, August 8th. The company reported $0.23 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.27 by $0.04. The company had revenue of $96.16 million for the quarter, compared to the consensus estimate of $85.89 million. During the same quarter last year, the company posted $0.70 earnings per share. Northern Oil & Gas’s revenue was down 19.3% compared to the same quarter last year. Analysts expect that Northern Oil & Gas will post $1.13 EPS for the current fiscal year.
A number of other firms have also recently commented on NOG. Analysts at Zacks upgraded shares of Northern Oil & Gas from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, October 11th. They now have a $15.80 price target on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Northern Oil & Gas in a research note to investors on Tuesday, September 3rd. They set a “buy” rating and a $17.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $17.85.
Northern Oil and Gas, Inc is an independent energy company. The Company is engaged in the acquisition, exploration, development and production of oil and natural gas properties, primarily in the Bakken and Three Forks formations within the Williston Basin in North Dakota and Montana.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.