Northern Oil and Gas (NYSE:NOG) Rating Increased to Hold at StockNews.com

Northern Oil and Gas (NYSE:NOG) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Thursday.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. Jefferies Financial Group upped their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Stifel Nicolaus raised their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Morgan Stanley boosted their target price on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Bank of America cut Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 target price on the stock. in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.90.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $40.26 on Thursday. The company has a 50-day simple moving average of $39.61 and a two-hundred day simple moving average of $37.36. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 1.32. The firm has a market capitalization of $4.07 billion, a PE ratio of 6.53 and a beta of 1.84. Northern Oil and Gas has a one year low of $29.57 and a one year high of $43.75.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.10. The firm had revenue of $396.35 million during the quarter, compared to analyst estimates of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The business’s revenue was down 31.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.76 EPS. On average, analysts anticipate that Northern Oil and Gas will post 5.46 EPS for the current fiscal year.

Insider Activity

In other news, President Adam A. Dirlam sold 2,088 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the transaction, the president now directly owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider James B. Evans sold 945 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the transaction, the insider now owns 83,872 shares of the company’s stock, valued at $3,187,136. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the sale, the president now directly owns 122,359 shares of the company’s stock, valued at $4,649,642. The disclosure for this sale can be found here. Insiders sold 10,944 shares of company stock valued at $436,614 over the last three months. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently modified their holdings of NOG. Principal Securities Inc. purchased a new stake in shares of Northern Oil and Gas in the fourth quarter worth $42,000. TFO Wealth Partners LLC boosted its holdings in 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 worth $42,000 after buying an additional 1,121 shares during the period. SRS Capital Advisors Inc. increased its stake in 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 worth $46,000 after buying an additional 927 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in Northern Oil and Gas during the third quarter valued at about $67,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Northern Oil and Gas by 74.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after acquiring an additional 930 shares in the last quarter. 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.