Northern Oil and Gas (NYSE:NOG) Receives New Coverage from Analysts at Mizuho

Research analysts at Mizuho began coverage on shares of Northern Oil and Gas (NYSE:NOG) in a research report issued on Thursday, Briefing.com reports. The firm set an “outperform” rating and a $47.00 price target on the stock. Mizuho’s price target points to a potential upside of 29.94% from the stock’s previous close.

Several other research analysts have also commented on NOG. Piper Sandler dropped their price target on 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. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley lowered their price target on 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. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. Finally, Truist Financial raised their target price on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas has an average rating of “Moderate Buy” and a consensus price target of $47.70.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $36.17 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 5.86 and a beta of 1.81. Northern Oil and Gas has a 1 year low of $31.13 and a 1 year high of $43.80. The stock’s 50 day simple moving average is $38.46 and its two-hundred day simple moving average is $39.10.

Northern Oil and Gas (NYSE:NOG) last released its quarterly 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 prior year, the firm earned $1.49 earnings per share. Northern Oil and Gas’s revenue was up 17.7% on a year-over-year basis. As a group, equities analysts anticipate that Northern Oil and Gas will post 5.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction on Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the sale, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now owns 224,332 shares in the company, valued at $8,526,859.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $37.88, for a total value of $52,728.96. Following the completion of the sale, the president now owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Institutional investors have recently bought and sold shares of the business. Westfield Capital Management Co. LP lifted its holdings in Northern Oil and Gas by 9.3% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock worth $57,003,000 after buying an additional 131,448 shares during the period. Vanguard Group Inc. lifted its stake in shares of Northern Oil and Gas by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after purchasing an additional 43,940 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in Northern Oil and Gas during the first quarter valued at about $1,046,000. Motley Fool Asset Management LLC boosted its position in Northern Oil and Gas by 29.0% during the first quarter. Motley Fool Asset Management LLC now owns 72,533 shares of the company’s stock valued at $2,878,000 after purchasing an additional 16,302 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its stake in Northern Oil and Gas by 1.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock valued at $29,747,000 after purchasing an additional 12,814 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.