StockNews.com Upgrades Northern Oil and Gas (NYSE:NOG) to Hold

Northern Oil and Gas (NYSE:NOG) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

Several other equities research analysts have also weighed in on the company. Raymond James dropped their price target on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada restated an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Truist Financial dropped their price target on Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Piper Sandler lifted their price target on Northern Oil and Gas from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Finally, Jefferies Financial Group lifted their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.30.

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $43.11 on Monday. The firm has a market cap of $4.36 billion, a P/E ratio of 4.29 and a beta of 1.86. Northern Oil and Gas has a fifty-two week low of $29.57 and a fifty-two week high of $43.64. The business’s 50 day moving average price is $38.40 and its 200-day moving average price is $37.23. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Friday, February 23rd. The company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). The business had revenue of $543.40 million during the quarter, compared to the consensus estimate of $555.31 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. Northern Oil and Gas’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.43 earnings per share. On average, equities research analysts anticipate that Northern Oil and Gas will post 5.43 earnings per share for the current year.

Insider Transactions at Northern Oil and Gas

In other news, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the transaction, the insider now owns 73,753 shares in the company, valued at $3,097,626. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider James B. Evans sold 945 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the transaction, the insider now owns 83,872 shares in the company, valued at $3,187,136. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the sale, the insider now directly owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The disclosure for this sale can be found here. Insiders sold 10,944 shares of company stock worth $436,614 over the last quarter. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Northern Oil and Gas

Large investors have recently modified their holdings of the company. TFO Wealth Partners LLC grew its holdings in shares of Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after acquiring an additional 1,121 shares during the period. Principal Securities Inc. bought a new stake in shares of Northern Oil and Gas in the fourth quarter worth $42,000. SRS Capital Advisors Inc. grew its holdings in shares of Northern Oil and Gas by 305.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after acquiring an additional 927 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in Northern Oil and Gas during the third quarter valued at about $67,000. Finally, Quadrant Capital Group LLC grew its holdings in Northern Oil and Gas by 74.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after purchasing an additional 930 shares during the period. Institutional investors 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.