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

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

NOG has been the topic of a number of other research reports. Bank of America lowered Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price objective on the stock. in a research report on Friday, January 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Morgan Stanley increased their target price on Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Citigroup dropped their target price on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Finally, Raymond James dropped their target price on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.40.

Northern Oil and Gas Stock Down 2.7 %

Shares of NYSE NOG opened at $39.67 on Thursday. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of 3.95 and a beta of 1.86. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. Northern Oil and Gas has a 52-week low of $29.57 and a 52-week high of $43.75. The business’s 50 day moving average is $39.38 and its two-hundred day moving average is $37.35.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. The company had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The firm’s quarterly revenue was down 31.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.76 earnings per share. Research analysts predict that Northern Oil and Gas will post 5.53 EPS for the current year.

Insider Transactions at Northern Oil and Gas

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

Institutional Investors Weigh In On Northern Oil and Gas

Hedge funds have recently added to or reduced their stakes in the company. TFO Wealth Partners LLC lifted its position in Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after purchasing an additional 1,121 shares during the period. Principal Securities Inc. acquired a new stake in Northern Oil and Gas in the fourth quarter valued at about $42,000. SRS Capital Advisors Inc. lifted its position in Northern Oil and Gas by 305.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock valued at $46,000 after purchasing an additional 927 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Northern Oil and Gas in the third quarter valued at about $67,000. Finally, Quadrant Capital Group LLC lifted its position in Northern Oil and Gas by 74.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after purchasing an additional 930 shares during the period. Institutional investors and hedge funds 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.