Northern Oil and Gas, Inc. (NYSE:NOG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Northern Oil and Gas, Inc. (NYSE:NOG) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $47.50.

NOG has been the topic of several analyst reports. Truist Financial boosted their price target on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley decreased their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Mizuho assumed coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective on the stock. Finally, Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company.

Northern Oil and Gas Stock Up 2.1 %

NOG stock opened at $43.21 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $4.31 billion, a P/E ratio of 5.08 and a beta of 1.80. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $43.80. The business has a 50-day moving average of $38.10 and a 200-day moving average of $38.55.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. During the same period last year, the business earned $1.73 EPS. The business’s quarterly revenue was up 140.0% on a year-over-year basis. On average, sell-side analysts anticipate that Northern Oil and Gas will post 5.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the transaction, the insider now directly owns 105,713 shares in the company, valued at approximately $3,727,440.38. This represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,508 shares of company stock worth $248,113 over the last ninety days. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently modified their holdings of NOG. Janney Montgomery Scott LLC raised its stake in Northern Oil and Gas by 17.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,992 shares of the company’s stock worth $396,000 after purchasing an additional 1,453 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Northern Oil and Gas by 7.3% in the first quarter. ProShare Advisors LLC now owns 17,822 shares of the company’s stock valued at $707,000 after buying an additional 1,214 shares during the period. Vanguard Group Inc. grew its position in Northern Oil and Gas by 0.4% during the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after buying an additional 43,940 shares in the last quarter. Seven Eight Capital LP bought a new position in Northern Oil and Gas during the 1st quarter worth $276,000. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Northern Oil and Gas during the 1st quarter valued at $1,046,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

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.