Northern Oil and Gas (NYSE:NOG) Rating Lowered to “Neutral” at Mizuho

Northern Oil and Gas (NYSE:NOG) was downgraded by equities research analysts at Mizuho from an “outperform” rating to a “neutral” rating in a report issued on Monday,Briefing.com Automated Import reports. They currently have a $47.00 price objective on the stock. Mizuho’s price target indicates a potential upside of 15.45% from the company’s current price.

A number of other brokerages have also recently issued reports on NOG. Piper Sandler raised their target price on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Truist Financial raised 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. Royal Bank of Canada downgraded Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from $43.00 to $45.00 in a research note on Wednesday, November 20th. Jefferies Financial Group initiated 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 on the stock. Finally, Morgan Stanley lowered their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, four have given 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.60.

Northern Oil and Gas Trading Down 1.2 %

NOG opened at $40.71 on Monday. Northern Oil and Gas has a 12-month low of $31.13 and a 12-month high of $44.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $4.06 billion, a PE ratio of 4.89 and a beta of 1.85. The firm’s fifty day moving average price is $39.92 and its 200 day moving average price is $38.76.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter in the prior year, the firm posted $1.73 earnings per share. Northern Oil and Gas’s revenue for the quarter was up 140.0% compared to the same quarter last year. As a group, research analysts expect that Northern Oil and Gas will post 5.4 EPS 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 2,508 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the sale, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Chad W. Allen sold 1,500 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at $3,351,680. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,508 shares of company stock valued at $248,113. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in Northern Oil and Gas by 1.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock worth $849,000 after buying an additional 320 shares during the last quarter. Easterly Investment Partners LLC grew its holdings in shares of Northern Oil and Gas by 0.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock worth $1,792,000 after acquiring an additional 380 shares during the last quarter. Signaturefd LLC raised 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 worth $30,000 after purchasing an additional 427 shares during the period. CWM LLC lifted its holdings 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 purchasing an additional 444 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Northern Oil and Gas by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock valued at $945,000 after purchasing an additional 555 shares during the period. 98.80% of the stock is currently owned by institutional investors.

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.