Northern Oil and Gas (NYSE:NOG) Upgraded to “Hold” by StockNews.com

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

NOG has been the subject of a number of other research reports. Stifel Nicolaus dropped their target price on shares of Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Raymond James dropped their price objective on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Jefferies Financial Group lifted their target price on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Truist Financial decreased their price target on shares of Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Finally, Bank of America lowered Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price objective on the stock. in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Northern Oil and Gas Trading Up 0.4 %

NYSE:NOG traded up $0.17 during trading hours on Monday, reaching $42.67. 1,911,160 shares of the company were exchanged, compared to its average volume of 1,275,441. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 4.25 and a beta of 1.86. The stock has a 50 day simple moving average of $38.19 and a 200 day simple moving average of $37.20. Northern Oil and Gas has a 52-week low of $29.57 and a 52-week high of $43.64. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.32.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results 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 firm had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. Northern Oil and Gas’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 EPS. As a group, analysts predict that Northern Oil and Gas will post 5.43 EPS for the current year.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the transaction, the insider now directly owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the sale, the president now directly owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The disclosure for this sale can be found here. Insiders sold a total of 10,944 shares of company stock worth $436,614 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Northern Oil and Gas

Institutional investors and hedge funds have recently bought and sold shares of the company. Jump Financial LLC acquired a new position in shares of Northern Oil and Gas in the 3rd quarter worth approximately $4,462,000. Ninepoint Partners LP boosted its holdings in Northern Oil and Gas by 12.5% in the fourth quarter. Ninepoint Partners LP now owns 450,000 shares of the company’s stock worth $16,682,000 after purchasing an additional 50,000 shares during the period. Wellington Management Group LLP increased its stake in Northern Oil and Gas by 11.6% during the third quarter. Wellington Management Group LLP now owns 417,265 shares of the company’s stock valued at $16,787,000 after purchasing an additional 43,527 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Northern Oil and Gas by 38.6% during the third quarter. Sei Investments Co. now owns 419,762 shares of the company’s stock worth $16,888,000 after purchasing an additional 116,983 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Northern Oil and Gas by 10.0% during the third quarter. Swiss National Bank now owns 173,800 shares of the company’s stock worth $6,992,000 after purchasing an additional 15,800 shares during the period. Institutional investors and hedge funds 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.