Northern Oil and Gas (NYSE:NOG) Now Covered by Analysts at Jefferies Financial Group

Analysts at Jefferies Financial Group began coverage on shares of Northern Oil and Gas (NYSE:NOG) in a research note issued to investors on Thursday, StockNewsAPI reports. The brokerage set a “buy” rating and a $53.00 price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 33.64% from the stock’s previous close.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Bank of America upped their target price on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Piper Sandler reduced their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. Finally, Truist Financial dropped their price objective on shares of Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.80.

Northern Oil and Gas Stock Up 1.5 %

Shares of NYSE NOG opened at $39.66 on Thursday. The company has a market capitalization of $4.01 billion, a P/E ratio of 6.43 and a beta of 1.81. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $43.80. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The company’s 50 day moving average price is $37.65 and its 200-day moving average price is $39.09.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company had revenue of $560.80 million for the quarter, compared to the consensus estimate of $542.28 million. During the same quarter in the previous year, the company earned $1.49 EPS. Northern Oil and Gas’s quarterly revenue was up 17.7% compared to the same quarter last year. Equities analysts forecast that Northern Oil and Gas will post 5.29 earnings per share for the current year.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares in the company, valued at $8,526,859.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares in the company, valued at $8,526,859.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was 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 owns 107,876 shares in the company, valued at $4,153,226. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,258 shares of company stock valued at $310,551 over the last three months. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Northern Oil and Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in Northern Oil and Gas by 39.2% in the third quarter. SG Americas Securities LLC now owns 161,569 shares of the company’s stock worth $5,721,000 after acquiring an additional 45,524 shares during the period. Heritage Wealth Management Inc. purchased a new position in Northern Oil and Gas in the 2nd quarter worth about $939,000. Quarry LP raised its position in Northern Oil and Gas by 338.8% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after buying an additional 874 shares during the last quarter. Creative Planning raised its position in Northern Oil and Gas by 80.6% in the 2nd quarter. Creative Planning now owns 23,712 shares of the company’s stock worth $881,000 after buying an additional 10,580 shares during the last quarter. Finally, Algert Global LLC purchased a new position in Northern Oil and Gas in the 2nd quarter worth about $340,000. 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.