Northern Oil and Gas, Inc. (NYSE:NOG) Given Consensus Recommendation of “Hold” by Brokerages

Northern Oil and Gas, Inc. (NYSE:NOG) has earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $33.00.

Several research firms have weighed in on NOG. Mizuho decreased their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, September 15th. 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 report on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Wednesday, October 8th. William Blair initiated coverage on shares of Northern Oil and Gas in a report on Monday, August 25th. They set an “outperform” rating for the company. Finally, Morgan Stanley reiterated an “underweight” rating and set a $26.00 price objective (down from $27.00) on shares of Northern Oil and Gas in a report on Tuesday, October 14th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Northern Oil and Gas by 133.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company’s stock valued at $27,000 after buying an additional 545 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Northern Oil and Gas by 200.3% during the second quarter. UMB Bank n.a. now owns 955 shares of the company’s stock valued at $27,000 after buying an additional 637 shares during the last quarter. First Horizon Corp purchased a new position in Northern Oil and Gas during the third quarter worth about $27,000. Pinnacle Holdings LLC purchased a new position in Northern Oil and Gas during the first quarter worth about $28,000. Finally, Laurel Wealth Advisors LLC boosted its holdings in Northern Oil and Gas by 2,736.1% during 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 last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Up 3.5%

NOG opened at $22.09 on Monday. Northern Oil and Gas has a 1-year low of $19.88 and a 1-year high of $44.31. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. The company has a market cap of $2.16 billion, a P/E ratio of 3.64 and a beta of 1.61. The company has a fifty day moving average price of $24.37 and a two-hundred day moving average price of $26.31.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Monday, March 6th. The company reported $1.06 earnings per share for the quarter. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The firm had revenue of $319.19 million during the quarter. Analysts predict that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

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.