Northern Oil and Gas (NYSE:NOG) Now Covered by William Blair

Equities research analysts at William Blair started coverage on shares of Northern Oil and Gas (NYSE:NOG) in a report released on Monday,Benzinga reports. The brokerage set an “outperform” rating on the stock.

Several other research analysts have also weighed in on the stock. Mizuho reduced their price objective on shares of Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Piper Sandler reissued a “neutral” rating and set a $25.00 price target (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Citigroup lifted their target price on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Morgan Stanley lowered Northern Oil and Gas from a “positive” rating to an “underweight” rating and dropped their price target for the stock from $29.00 to $27.00 in a research report on Monday, August 18th. Finally, Bank of America boosted their price objective on Northern Oil and Gas from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.89.

Northern Oil and Gas Stock Up 5.7%

NYSE:NOG opened at $25.0640 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. Northern Oil and Gas has a 12-month low of $19.88 and a 12-month high of $44.31. The stock’s fifty day simple moving average is $27.76 and its 200-day simple moving average is $28.08. The firm has a market capitalization of $2.45 billion, a P/E ratio of 4.14 and a beta of 1.55.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.50. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.The firm had revenue of $706.81 million for the quarter, compared to analyst estimates of $555.54 million. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. Equities research analysts expect that Northern Oil and Gas will post 5.18 earnings per share for the current year.

Institutional Trading of Northern Oil and Gas

A number of hedge funds and other institutional investors have recently modified their holdings of NOG. State of Alaska Department of Revenue raised its holdings in Northern Oil and Gas by 25.3% during the first quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company’s stock worth $2,932,000 after acquiring an additional 19,586 shares in the last quarter. American Century Companies Inc. grew its stake in Northern Oil and Gas by 6.4% in the first quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock valued at $210,201,000 after purchasing an additional 415,781 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Northern Oil and Gas by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 494,508 shares of the company’s stock worth $14,949,000 after purchasing an additional 12,711 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Northern Oil and Gas by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,141,754 shares of the company’s stock valued at $34,515,000 after buying an additional 82,855 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of Northern Oil and Gas by 1.9% in the 1st quarter. New York State Common Retirement Fund now owns 1,092,152 shares of the company’s stock valued at $33,016,000 after buying an additional 20,186 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

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.