Northern Oil and Gas, Inc. (NYSE:NOG) Receives $29.29 Consensus PT from Brokerages

Northern Oil and Gas, Inc. (NYSE:NOG) has received a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $29.2857.

A number of research firms recently weighed in on NOG. Citigroup reduced their price objective on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Thursday, January 22nd. Royal Bank Of Canada reduced their price target on Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 20th. Mizuho set a $29.00 price objective on Northern Oil and Gas in a research note on Wednesday, January 21st. Finally, Morgan Stanley set a $24.00 price objective on Northern Oil and Gas and gave the stock an “underweight” rating in a report on Friday, January 23rd.

Northern Oil and Gas Price Performance

NYSE NOG opened at $25.94 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.05. The company has a market cap of $2.53 billion, a PE ratio of 14.66 and a beta of 1.01. Northern Oil and Gas has a 52 week low of $19.88 and a 52 week high of $36.16. The firm’s 50-day simple moving average is $23.05 and its two-hundred day simple moving average is $23.64.

Hedge Funds Weigh In On Northern Oil and Gas

Hedge funds have recently bought and sold shares of the company. First Horizon Corp bought a new position in Northern Oil and Gas in the 3rd quarter valued at $27,000. Laurel Wealth Advisors LLC increased its holdings in shares of Northern Oil and Gas by 2,736.1% in the second quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock worth $29,000 after purchasing an additional 985 shares during the period. Jones Financial Companies Lllp raised its position in shares of Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after buying an additional 713 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Northern Oil and Gas by 572.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock worth $36,000 after buying an additional 1,432 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in Northern Oil and Gas by 315.7% during the second quarter. IFP Advisors Inc now owns 1,351 shares of the company’s stock valued at $38,000 after buying an additional 1,026 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

About Northern Oil and Gas

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.