Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) has been given an average rating of "Moderate Buy" by the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $47.50.
NOG has been the topic of several recent research reports. Mizuho initiated coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They issued an "outperform" rating and a $47.00 price target on the stock. StockNews.com downgraded Northern Oil and Gas from a "hold" rating to a "sell" rating in a research note on Thursday, August 1st. Truist Financial increased their target price on Northern Oil and Gas from $44.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Morgan Stanley dropped 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. Finally, Piper Sandler dropped their price target on Northern Oil and Gas from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, August 15th.
View Our Latest Report on Northern Oil and Gas
In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the sale, the insider now directly owns 105,713 shares of the company's stock, valued at $3,727,440.38. This trade represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the transaction, the president now owns 107,876 shares of the company's stock, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,508 shares of company stock valued at $248,113 over the last ninety days. 2.80% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Northern Oil and Gas by 1.4% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company's stock valued at $849,000 after buying an additional 320 shares during the period. Easterly Investment Partners LLC boosted its position in shares of Northern Oil and Gas by 0.8% during the third quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company's stock valued at $1,792,000 after buying an additional 380 shares during the period. Signaturefd LLC boosted its position in shares of Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company's stock valued at $30,000 after buying an additional 427 shares during the period. CWM LLC boosted its position in shares of Northern Oil and Gas by 24.8% during the third quarter. CWM LLC now owns 2,237 shares of the company's stock valued at $79,000 after buying an additional 444 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Northern Oil and Gas by 91.5% during the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company's stock valued at $41,000 after buying an additional 528 shares during the period. Hedge funds and other institutional investors own 98.80% of the company's stock.
Shares of NYSE:NOG opened at $40.50 on Monday. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $43.80. The firm has a market capitalization of $4.04 billion, a P/E ratio of 4.86 and a beta of 1.80. The stock has a 50 day moving average price of $37.51 and a 200-day moving average price of $38.50. 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 (NYSE:NOG - Get Free Report) last posted 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. The company had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The firm's quarterly revenue was up 140.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.73 EPS. As a group, equities research analysts anticipate that Northern Oil and Gas will post 5.38 EPS for the current fiscal year.
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.
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