#5 - Northern Oil and Gas (NYSE:NOG)
At first glance, you might say that Northern Oil and Gas Inc. (NYSE: NOG) is also part of a Trump trade. The former president has made it clear that his administration would be more receptive to oil and gas exploration. But the case for NOG stock cuts across party lines.
The reality of oil is that the world will continue to need it for decades, even as a genuine conversion to renewable energy is underway. Northern Oil and Gas owns several attractive properties in the Williston, Permian, and Appalachian basins.
NOG stock trades at around 7x earnings and is up approximately 4% in 2024. The company also pays a dividend of 40 cents per share, with a dividend yield of 4.1%.
Plus, analysts are bidding the stock higher. The NOG analyst forecasts on MarketBeat show that Truist Financial Corp. (NYSE: TFC) issued a price target of $54 on the stock on July 22. While that’s $3 lower than its previous price, it’s still over 10% higher than the consensus price.
About Northern Oil and Gas
Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.
Read More - Current Price
- $37.25
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $47.70 (28.1% Upside)
