Northern Oil and Gas, Inc. (NYSE:NOG) Receives Average Rating of "Moderate Buy" from Analysts

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $47.60.

NOG has been the subject of a number of recent research reports. Piper Sandler upped their price objective 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. Morgan Stanley cut their target price 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. Mizuho began coverage on shares of Northern Oil and Gas in a research report on Thursday, September 19th. They set an "outperform" rating and a $47.00 price objective for the company. StockNews.com lowered shares of Northern Oil and Gas from a "hold" rating to a "sell" rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They set a "buy" rating and a $53.00 price objective on the stock.

Insider Buying and Selling

In related news, insider Erik J. Romslo sold 1,500 shares of the firm's stock in a transaction on Tuesday, October 1st. The shares were 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 in the company, valued at $3,727,440.38. This trade represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of the firm's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the completion of the transaction, the president now directly owns 107,876 shares of the company's stock, valued at approximately $4,153,226. This trade 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 worth $248,113 over the last ninety days. Company insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NOG. Dimensional Fund Advisors LP grew its position in shares of Northern Oil and Gas by 45.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company's stock valued at $93,744,000 after acquiring an additional 789,985 shares during the period. American Century Companies Inc. boosted its holdings in shares of Northern Oil and Gas by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company's stock worth $206,905,000 after buying an additional 552,645 shares during the period. abrdn plc bought a new stake in shares of Northern Oil and Gas during the 3rd quarter worth about $17,096,000. Bridgewater Associates LP boosted its holdings in shares of Northern Oil and Gas by 135.6% during the 3rd quarter. Bridgewater Associates LP now owns 511,170 shares of the company's stock worth $18,101,000 after buying an additional 294,223 shares during the period. Finally, New York State Common Retirement Fund boosted its holdings in shares of Northern Oil and Gas by 41.4% during the 3rd quarter. New York State Common Retirement Fund now owns 940,987 shares of the company's stock worth $33,320,000 after buying an additional 275,704 shares during the period. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Stock Up 2.3 %

NYSE:NOG traded up $0.94 during trading hours on Monday, hitting $41.44. 620,555 shares of the stock traded hands, compared to its average volume of 1,318,705. The firm has a 50 day moving average price of $37.51 and a 200 day moving average price of $38.49. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $43.80. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 4.96 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business had revenue of $753.64 million for the quarter, compared to analysts' expectations of $540.23 million. During the same period in the previous year, the company posted $1.73 EPS. Northern Oil and Gas's revenue was up 140.0% on a year-over-year basis. Equities research analysts anticipate that Northern Oil and Gas will post 5.38 earnings per share for the current year.

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.