Northern Oil and Gas (NYSE:NOG) Receives “Sector Perform” Rating from Royal Bank of Canada

Northern Oil and Gas (NYSE:NOG)‘s stock had its “sector perform” rating reiterated by equities researchers at Royal Bank of Canada in a research report issued on Friday,Benzinga reports. They currently have a $45.00 target price on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 12.73% from the stock’s previous close.

Several other brokerages also recently weighed in on NOG. Truist Financial increased their price target on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a report on Monday, December 16th. Jefferies Financial Group began coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. Morgan Stanley dropped their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Finally, Piper Sandler dropped their price objective on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.20.

Northern Oil and Gas Trading Up 1.3 %

NOG stock traded up $0.52 during midday trading on Friday, reaching $39.92. 549,201 shares of the company traded hands, compared to its average volume of 945,231. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $44.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The business has a 50 day moving average of $39.71 and a 200-day moving average of $38.67. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 4.79 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. During the same period in the prior year, the business posted $1.73 earnings per share. The company’s quarterly revenue was up 140.0% compared to the same quarter last year. As a group, sell-side analysts expect that Northern Oil and Gas will post 5.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

Institutional investors have recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas in the 3rd quarter worth about $25,000. Signaturefd LLC boosted its holdings in shares of Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after purchasing an additional 427 shares during the last quarter. Quarry LP boosted its holdings in shares of Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after purchasing an additional 874 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Northern Oil and Gas by 58.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock worth $62,000 after purchasing an additional 647 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after purchasing an additional 1,048 shares during the last quarter. Hedge funds and other 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.