Northern Oil and Gas (NYSE:NOG) Coverage Initiated by Analysts at StockNews.com

Posted by Defense World Staff on May 18th, 2023

Analysts at StockNews.com started coverage on shares of Northern Oil and Gas (NYSE:NOG – Get Rating) in a note issued to investors on Thursday. The firm set a “sell” rating on the stock.

Several other analysts have also issued reports on the company. Stifel Nicolaus boosted their target price on Northern Oil and Gas from $40.00 to $43.00 in a research note on Thursday, April 27th. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research note on Friday, March 17th. Piper Sandler lowered their target price on Northern Oil and Gas from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 7th. Truist Financial boosted their target price on Northern Oil and Gas from $44.00 to $59.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. Finally, Raymond James boosted their target price on Northern Oil and Gas from $47.00 to $52.00 and gave the company a “strong-buy” rating in a research note on Friday, April 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.60.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $30.30 on Thursday. The business’s fifty day simple moving average is $31.24 and its 200 day simple moving average is $32.37. The firm has a market capitalization of $2.59 billion, a P/E ratio of 2.00 and a beta of 2.02. Northern Oil and Gas has a 12 month low of $21.45 and a 12 month high of $39.10. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.68.

Northern Oil and Gas (NYSE:NOG – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.22. The business had revenue of $582.21 million for the quarter, compared to analyst estimates of $395.37 million. Northern Oil and Gas had a return on equity of 86.66% and a net margin of 60.39%. During the same period last year, the company posted $1.58 earnings per share. As a group, analysts anticipate that Northern Oil and Gas will post 8.14 EPS for the current year.

Institutional Trading of Northern Oil and Gas

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Centerpoint Advisors LLC grew its position in Northern Oil and Gas by 256.9% during the fourth quarter. Centerpoint Advisors LLC now owns 803 shares of the company’s stock worth $25,000 after buying an additional 578 shares in the last quarter. Spire Wealth Management purchased a new position in Northern Oil and Gas during the first quarter worth about $28,000. Nisa Investment Advisors LLC grew its position in Northern Oil and Gas by 42.3% during the third quarter. Nisa Investment Advisors LLC now owns 996 shares of the company’s stock worth $34,000 after buying an additional 296 shares in the last quarter. CWM LLC grew its position in Northern Oil and Gas by 89.5% during the first quarter. CWM LLC now owns 1,080 shares of the company’s stock worth $33,000 after buying an additional 510 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in Northern Oil and Gas by 1,349.4% during the second quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock worth $29,000 after buying an additional 1,066 shares in the last quarter. 96.41% of the stock is currently owned by institutional investors.

Northern Oil and Gas Company Profile

(Get Rating)

Northern Oil & Gas, Inc engages in the acquisition, exploration, development, and production of crude oil and natural gas properties. It focuses on the Bakken and Three Forks formation within the Williston Basin in North Dakota and Montana. The company was founded on March 20, 2007 and is headquartered in Minnetonka, MN.