StockNews.com Upgrades Northern Oil and Gas (NYSE:NOG) to Hold

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 note issued to investors on Monday.

A number of other research analysts have also recently commented on the company. Bank of America cut Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price objective on the stock. in a report on Friday, January 5th. 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. Royal Bank of Canada restated an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. Raymond James decreased their price target on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Citigroup decreased their price target on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.30.

Northern Oil and Gas Trading Up 1.1 %

NOG opened at $43.11 on Monday. Northern Oil and Gas has a one year low of $29.57 and a one year high of $43.64. The stock has a market capitalization of $4.36 billion, a PE ratio of 4.29 and a beta of 1.86. The business’s 50 day moving average price is $38.40 and its 200 day moving average price is $37.23. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The business had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. During the same quarter in the prior year, the company posted $1.43 earnings per share. The company’s revenue was up 21.9% on a year-over-year basis. As a group, equities research analysts expect that Northern Oil and Gas will post 5.43 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Northern Oil and Gas

Several large investors have recently bought and sold shares of the business. Private Advisor Group LLC increased its holdings in Northern Oil and Gas by 4.8% in the third quarter. Private Advisor Group LLC now owns 6,118 shares of the company’s stock valued at $246,000 after buying an additional 282 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of Northern Oil and Gas by 1.3% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock worth $823,000 after purchasing an additional 290 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Northern Oil and Gas by 1.0% during the third quarter. PNC Financial Services Group Inc. now owns 29,761 shares of the company’s stock worth $1,197,000 after purchasing an additional 306 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Northern Oil and Gas by 1.1% during the third quarter. Kestra Advisory Services LLC now owns 27,673 shares of the company’s stock worth $1,113,000 after purchasing an additional 309 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Northern Oil and Gas by 3.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,197 shares of the company’s stock worth $450,000 after purchasing an additional 332 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

About Northern Oil and Gas

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.