Northern Oil and Gas (NYSE:NOG) Accelerating Drilling Schedule

Northern Oil and Gas (NYSE:NOG) continues to find favor with Canaccord Genuity, who says they liek their ability to choose quality acreage and aquire it at good prices. They maintain their "Buy" rating on Northern at this time.

Canaccord said, "We are reiterating our rating and maintaining our target price based on Northern Oil’s accelerated drilling schedule and proven ability to organically acquire acreage at accretive levels. We continue to believe Northern Oil remains undervalued for a company with its acreage quality and relative growth potential."

Northern jumped to $22.75 at close Monday, gaining $0.68, or 3.08 percent. Canaccord has a price target of $26 on the company.