Roth Capital Starts Northern Oil and Gas (NOG) at Buy

Roth Capital analyst John White initiates coverage on Northern Oil and Gas (NYSE: NOG) with a Buy rating and a price target of $1.80.

The analyst comments "NOG, in our opinion, presents a compelling investment case due to several major factors: 1) we model NOG will achieve strong free cash flow in 2H 2020 and for the full year 2021, 2) this free cash flow will allow significant deleveraging in 4Q 2020, and 3) with its strengthening balance sheet and vast data base of drilled and completed wells NOG is well positioned to serve as a non-operated consolidator of properties in the Bakken Shale play."

For an analyst ratings summary and ratings history on Northern Oil and Gas click here. For more ratings news on Northern Oil and Gas click here.

Shares of Northern Oil and Gas closed at $0.70 yesterday.

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