Northern Oil and Gas (NYSE:NOG) Cut to “Sell” at StockNews.com

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

Other research analysts also recently issued reports about the company. Morgan Stanley upped their price target on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Piper Sandler upped their price target on Northern Oil and Gas from $42.00 to $43.00 and gave the stock a neutral rating in a research note on Tuesday, May 14th. Stifel Nicolaus upped their price target on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a buy rating in a research note on Tuesday, April 23rd. Truist Financial dropped their price target on Northern Oil and Gas from $57.00 to $54.00 and set a buy rating for the company in a research note on Monday, July 22nd. Finally, Citigroup dropped their price target on Northern Oil and Gas from $55.00 to $50.00 and set a buy rating for the company in a research note on Friday, May 3rd. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $48.90.

Northern Oil and Gas Trading Down 6.9 %

Northern Oil and Gas stock opened at $38.58 on Thursday. The firm has a 50 day moving average of $38.98 and a 200 day moving average of $38.27. The firm has a market capitalization of $3.86 billion, a price-to-earnings ratio of 6.25 and a beta of 1.79. Northern Oil and Gas has a 12-month low of $31.13 and a 12-month high of $43.80. The company has a current ratio of 0.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.26. The company had revenue of $560.80 million during the quarter, compared to analyst estimates of $542.28 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.49 EPS. As a group, research analysts predict that Northern Oil and Gas will post 5.12 earnings per share for the current year.

Insider Activity

In other news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total transaction of $56,877.12. Following the completion of the transaction, the president now directly owns 109,020 shares in the company, valued at approximately $4,454,557.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the sale, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $40.86, for a total value of $56,877.12. Following the transaction, the president now owns 109,020 shares of the company’s stock, valued at approximately $4,454,557.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,534 shares of company stock worth $252,144. 2.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently modified their holdings of NOG. Westfield Capital Management Co. LP increased its stake in Northern Oil and Gas by 9.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock worth $57,003,000 after purchasing an additional 131,448 shares during the period. Ninepoint Partners LP increased its stake in Northern Oil and Gas by 12.5% in the 4th quarter. Ninepoint Partners LP now owns 450,000 shares of the company’s stock worth $16,682,000 after buying an additional 50,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Northern Oil and Gas by 34.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,963 shares of the company’s stock worth $555,000 after buying an additional 3,848 shares during the period. Vanguard Group Inc. lifted its holdings in Northern Oil and Gas by 0.4% during the 1st 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 in the last quarter. Finally, UniSuper Management Pty Ltd purchased a new stake in Northern Oil and Gas in the 1st quarter valued at about $1,046,000. 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.