April 9, 2018 / 2:40 PM / 5 months ago

BUZZ-Northern Oil and Gas: stock jumps as Stifel says "buy"

** Shares of Northern Oil and Gas Inc jumped nearly 7 pct early Mon as Stifel initiated coverage at “buy” with $3.10 PT

** Stock now up 4.7 pct at $1.55

** Lead analyst Derrick Whitfield cites limited alternatives for investors looking to hedge Permian Basin exposure

** Believes NOG has opportunity to acquire best assets in Williston Basin among limited competition, projects peer-leading 2018-2020 growth of 12 pct

** On Fri, Bakken-shale focused co’s shares dropped ~15 pct after its follow-on priced at a deep discount; Stifel was sole bookrunner in the $88 mln equity raise

** Whitfield earns 4 of 5 stars from Thomson Reuters StarMine for past analysis of oil and gas E&P sector, and is lone “buy” among 4 analysts covering NOG, with 2 recommending “hold” and 1 “sell”; median PT $3

** Despite today’s gain, NOG shares down ~24 pct YTD (Reporting by Stephen Culp)

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