Northern Oil and Gas (NYSE:NOG) Research Coverage Started at Jefferies Financial Group

Research analysts at Jefferies Financial Group started coverage on shares of Northern Oil and Gas (NYSE:NOG) in a research note issued on Thursday, StockNewsAPI reports. The brokerage set a “buy” rating and a $53.00 price target on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 38.20% from the company’s previous close.

NOG has been the topic of a number of other research reports. StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Truist Financial dropped their target price on shares of Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday. 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 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. Finally, Bank of America boosted 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 report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Northern Oil and Gas has a consensus rating of “Moderate Buy” and an average price target of $46.80.

Northern Oil and Gas Trading Up 4.0 %

Shares of Northern Oil and Gas stock traded up $1.47 during trading on Thursday, hitting $38.35. The stock had a trading volume of 718,222 shares, compared to its average volume of 1,346,786. The firm’s fifty day simple moving average is $37.67 and its 200-day simple moving average is $39.08. The stock has a market cap of $3.88 billion, a PE ratio of 6.22 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. Northern Oil and Gas has a 12 month low of $31.13 and a 12 month high of $43.80.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share 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 during the quarter, compared to analyst estimates of $542.28 million. During the same quarter last year, the business posted $1.49 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, sell-side analysts expect that Northern Oil and Gas will post 5.29 EPS for the current fiscal year.

Insider Transactions at Northern Oil and Gas

In related news, insider Erik J. Romslo sold 1,500 shares of the company’s 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 of the company’s stock, valued at $3,727,440.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Erik J. Romslo sold 1,500 shares of the company’s 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 of the company’s stock, valued at $3,727,440.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the transaction, the chief executive officer now directly owns 224,332 shares in the company, valued at approximately $8,526,859.32. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after acquiring an additional 528 shares during the last quarter. TFO Wealth Partners LLC lifted its stake in Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after acquiring an additional 1,121 shares during the last quarter. Quarry LP lifted its stake in Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after acquiring an additional 874 shares during the last quarter. Fifth Third Bancorp lifted its stake in Northern Oil and Gas by 88.2% in the second quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock worth $82,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Marks Group Wealth Management Inc purchased a new position in Northern Oil and Gas in the first quarter worth approximately $215,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

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.