Northern Oil and Gas, Inc. (NYSE:NOG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $47.50.

A number of equities research analysts have commented on NOG shares. Mizuho started coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective on the stock. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Truist Financial upped their target price on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler upped their target price on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Finally, 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 on the stock in a research report on Monday, September 16th.

Northern Oil and Gas Trading Up 2.0 %

Shares of NOG stock opened at $43.20 on Monday. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $43.80. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 5.19 and a beta of 1.80. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a fifty day moving average of $38.28 and a 200-day moving average of $38.54.

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 analysts’ consensus estimates 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 company had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter in the prior year, the company posted $1.73 EPS. The business’s revenue was up 140.0% on a year-over-year basis. On average, equities research analysts forecast that Northern Oil and Gas will post 5.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Northern Oil and Gas

In other news, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the sale, the insider now owns 105,713 shares in the company, valued at $3,727,440.38. This represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of the business’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 value 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. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,508 shares of company stock valued at $248,113. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its stake in Northern Oil and Gas by 17.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,992 shares of the company’s stock worth $396,000 after buying an additional 1,453 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Northern Oil and Gas by 7.3% in the 1st quarter. ProShare Advisors LLC now owns 17,822 shares of the company’s stock valued at $707,000 after purchasing an additional 1,214 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Northern Oil and Gas by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after purchasing an additional 43,940 shares in the last quarter. Seven Eight Capital LP purchased a new stake in shares of Northern Oil and Gas in the 1st quarter valued at $276,000. Finally, UniSuper Management Pty Ltd purchased a new stake in shares of Northern Oil and Gas in the 1st quarter valued at $1,046,000. 98.80% of the stock is currently owned by hedge funds and other 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.