Northern Oil and Gas (NYSE:NOG) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Northern Oil and Gas (NYSE:NOG) from a hold rating to a sell rating in a report issued on Thursday.

Several other analysts have also recently issued reports on the company. Truist Financial dropped their target price on Northern Oil and Gas from $57.00 to $54.00 and set a buy rating for the company in a report on Monday, July 22nd. Bank of America upped their target price on Northern Oil and Gas from $48.00 to $49.00 and gave the company a buy rating in a report on Wednesday, July 10th. Stifel Nicolaus upped their target price on Northern Oil and Gas from $54.00 to $55.00 and gave the company a buy rating in a report on Tuesday, April 23rd. Morgan Stanley upped their target price on Northern Oil and Gas from $38.00 to $41.00 and gave the company an equal weight rating in a report on Monday, April 15th. Finally, Royal Bank of Canada restated an outperform rating and issued a $46.00 target price on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. One 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $48.90.

Northern Oil and Gas Stock Down 6.9 %

Shares of NOG opened at $38.58 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.96 and a current ratio of 0.89. Northern Oil and Gas has a one year low of $31.13 and a one year high of $43.80. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 6.25 and a beta of 1.79. The stock has a 50 day moving average price of $38.98 and a 200 day moving average price of $38.27.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.20 by $0.26. The firm had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 earnings per share. Equities research analysts forecast that Northern Oil and Gas will post 5.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $37.88, for a total transaction of $52,728.96. Following the completion of the sale, the president now directly owns 107,628 shares of the company’s stock, valued at approximately $4,076,948.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 224,332 shares in the company, valued at approximately $8,526,859.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 1,392 shares of the firm’s 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 transaction, 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. In the last ninety days, insiders sold 6,534 shares of company stock valued at $252,144. 2.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of NOG. GAMMA Investing LLC boosted its stake in shares of Northern Oil and Gas by 91.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after buying an additional 528 shares during the period. Principal Securities Inc. purchased a new position in shares of Northern Oil and Gas in the 4th quarter valued at about $42,000. TFO Wealth Partners LLC boosted its stake in shares of Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after buying an additional 1,121 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Northern Oil and Gas by 305.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock valued at $46,000 after buying an additional 927 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of Northern Oil and Gas by 74.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after buying an additional 930 shares during the period. 98.80% of the stock is currently 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.