Northern Oil and Gas' (NOG) "Sector Perform" Rating Reiterated at Royal Bank of Canada

Northern Oil and Gas (NYSE:NOG - Get Free Report)'s stock had its "sector perform" rating restated by equities research analysts at Royal Bank of Canada in a research note issued on Friday,Benzinga reports. They currently have a $45.00 target price on the stock. Royal Bank of Canada's target price suggests a potential upside of 12.70% from the company's current price.

A number of other brokerages have also issued reports on NOG. Morgan Stanley reduced their target price on Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating for the company in a research note on Monday, September 16th. Piper Sandler dropped their target price on Northern Oil and Gas from $41.00 to $37.00 and set a "neutral" rating on the stock in a research report on Tuesday, December 17th. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They set a "buy" rating and a $53.00 price target for the company. Mizuho downgraded shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price objective on the stock. in a report on Monday, December 16th. Finally, Truist Financial increased their price objective on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $47.20.

Northern Oil and Gas Stock Up 1.3 %

Northern Oil and Gas stock traded up $0.53 during midday trading on Friday, reaching $39.93. The company's stock had a trading volume of 1,542,557 shares, compared to its average volume of 1,115,093. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $44.31. The stock has a market capitalization of $3.99 billion, a P/E ratio of 4.79 and a beta of 1.85. 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's 50-day simple moving average is $39.71 and its 200-day simple moving average is $38.67.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its 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 net margin of 33.44% and a return on equity of 27.52%. Northern Oil and Gas's revenue was up 140.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 EPS. On average, sell-side analysts expect that Northern Oil and Gas will post 5.4 EPS for the current year.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 836 shares of the 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 directly owns 96,223 shares of the company's stock, valued at approximately $3,752,697. This represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Northern Oil and Gas

A number of large investors have recently modified their holdings of the business. Legacy Investment Solutions LLC purchased a new stake in Northern Oil and Gas during the 3rd quarter valued at about $25,000. Signaturefd LLC grew its position in shares of Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company's stock valued at $30,000 after purchasing an additional 427 shares in the last quarter. Quarry LP increased its holdings in shares of Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company's stock valued at $42,000 after purchasing an additional 874 shares during the last quarter. GAMMA Investing LLC lifted its position in Northern Oil and Gas by 58.6% during the third quarter. GAMMA Investing LLC now owns 1,752 shares of the company's stock worth $62,000 after buying an additional 647 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Northern Oil and Gas by 122.6% during the third quarter. Covestor Ltd now owns 1,903 shares of the company's stock worth $67,000 after buying an additional 1,048 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

About Northern Oil and Gas

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.