Northern Oil and Gas’ (NOG) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Northern Oil and Gas (NYSE:NOG)‘s stock had its “sector perform” rating restated by research analysts 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 target suggests a potential upside of 12.73% from the company’s current price.

Other research analysts also recently issued research reports about the company. Piper Sandler reduced their price objective on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Jefferies Financial Group started coverage on 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. Mizuho cut 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. Truist Financial raised their price objective on Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Morgan Stanley decreased their price target 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and an average target price of $47.20.

Northern Oil and Gas Stock Up 1.3 %

Shares of NYSE NOG traded up $0.52 during midday trading on Friday, hitting $39.92. 549,201 shares of the stock traded hands, compared to its average volume of 945,231. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. Northern Oil and Gas has a one year low of $31.13 and a one year high of $44.31. The business has a 50 day moving average price of $39.71 and a two-hundred day moving average price of $38.67. The company has a market cap of $3.99 billion, a PE ratio of 4.79 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.73 earnings per share. On average, equities analysts predict that Northern Oil and Gas will post 5.4 EPS for the current year.

Insider Activity at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Range Financial Group LLC purchased a new stake in Northern Oil and Gas during the fourth quarter valued at $332,000. Insight Wealth Strategies LLC increased its position in Northern Oil and Gas by 2.7% during the fourth quarter. Insight Wealth Strategies LLC now owns 28,550 shares of the company’s stock valued at $1,061,000 after acquiring an additional 751 shares during the last quarter. Doliver Advisors LP increased its position in Northern Oil and Gas by 2.9% during the fourth quarter. Doliver Advisors LP now owns 28,667 shares of the company’s stock valued at $1,065,000 after acquiring an additional 800 shares during the last quarter. GAMMA Investing LLC increased its position in Northern Oil and Gas by 21.0% during the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after acquiring an additional 368 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Northern Oil and Gas by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock valued at $80,884,000 after purchasing an additional 100,761 shares during the period. 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.