Northern Oil and Gas (NYSE:NOG) Downgraded by StockNews.com

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

A number of other analysts have also recently commented on the stock. Morgan Stanley upped their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Truist Financial raised their price target on Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Jefferies Financial Group boosted their price objective on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Citigroup dropped their price objective on Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Finally, Bank of America raised their target price on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas has an average rating of “Moderate Buy” and a consensus price target of $49.00.

Northern Oil and Gas Stock Performance

NYSE:NOG traded up $0.01 during trading hours on Thursday, reaching $41.66. The stock had a trading volume of 963,162 shares, compared to its average volume of 1,290,180. The stock has a market cap of $4.21 billion, a P/E ratio of 6.75 and a beta of 1.79. The stock has a 50 day simple moving average of $38.93 and a 200 day simple moving average of $37.94. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.96 and a current ratio of 0.96. Northern Oil and Gas has a 12-month low of $31.13 and a 12-month high of $43.75.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.10. The company 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 firm’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 EPS. On average, research analysts forecast that Northern Oil and Gas will post 4.97 EPS for the current fiscal year.

Insider Activity

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.01, for a total value 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 $8,526,859.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.88, for a total transaction of $52,728.96. Following the transaction, the president now directly owns 107,628 shares in the company, valued at $4,076,948.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction that occurred 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 directly owns 224,332 shares in the company, valued at $8,526,859.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,534 shares of company stock worth $252,144. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently made changes to their positions in NOG. Vanguard Group Inc. boosted its position in Northern Oil and Gas by 0.4% during the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after buying an additional 43,940 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Northern Oil and Gas by 13.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock valued at $69,430,000 after acquiring an additional 212,030 shares during the period. Allspring Global Investments Holdings LLC grew its position in Northern Oil and Gas by 5.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock worth $56,850,000 after acquiring an additional 77,537 shares during the last quarter. Principal Financial Group Inc. grew its position in Northern Oil and Gas by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,422,435 shares of the company’s stock worth $56,442,000 after acquiring an additional 16,081 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Northern Oil and Gas by 30.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock worth $51,001,000 after purchasing an additional 324,958 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.