Northern Oil and Gas (NYSE:NOG) Downgraded by Mizuho to Neutral

Northern Oil and Gas (NYSE:NOG) was downgraded by investment analysts at Mizuho from an “outperform” rating to a “neutral” rating in a report released on Monday, MarketBeat Ratings reports. They presently have a $47.00 price target on the stock. Mizuho’s target price suggests a potential upside of 22.14% from the stock’s previous close.

Several other brokerages also recently issued reports on NOG. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective for the company. Royal Bank of Canada downgraded Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. Truist Financial raised their price target on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Piper Sandler upped their price objective on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research note 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 for the company in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Northern Oil and Gas currently has an average rating of “Moderate Buy” and an average target price of $47.20.

Northern Oil and Gas Stock Down 2.0 %

Shares of NYSE:NOG opened at $38.48 on Monday. The firm has a 50 day simple moving average of $39.90 and a 200 day simple moving average of $38.75. Northern Oil and Gas has a 52 week low of $31.13 and a 52 week high of $44.31. 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 company has a market cap of $3.84 billion, a PE ratio of 4.62 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating 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%. The company’s revenue was up 140.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 EPS. As a group, research analysts expect that Northern Oil and Gas will post 5.4 earnings per share for the current year.

Insider Activity

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the 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 transaction, the president now owns 107,876 shares in the company, valued at $4,153,226. This trade represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Chad W. Allen sold 1,500 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer now owns 83,792 shares of the company’s stock, valued at $3,351,680. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,508 shares of company stock worth $248,113. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NOG. Legacy Investment Solutions LLC acquired a new stake in shares of Northern Oil and Gas in the third quarter valued at about $25,000. Signaturefd LLC boosted 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 acquiring an additional 427 shares during the period. Quarry LP grew its stake 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 worth $42,000 after acquiring an additional 874 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Northern Oil and Gas by 58.6% in the third quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock worth $62,000 after acquiring an additional 647 shares during the last quarter. Finally, Covestor Ltd increased its position 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 acquiring an additional 1,048 shares during the period. Institutional investors 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.