Brokerages Set Northern Oil and Gas, Inc. (NYSE:NOG) Target Price at $33.00

Northern Oil and Gas, Inc. (NYSE:NOG) has been given an average recommendation of “Hold” by the eleven research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $33.00.

A number of brokerages have commented on NOG. Piper Sandler restated a “neutral” rating and set a $25.00 price objective (down previously from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. William Blair began coverage on shares of Northern Oil and Gas in a research report on Monday, August 25th. They set an “outperform” rating for the company. Royal Bank Of Canada cut their price objective on shares of Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Monday, July 14th. Citigroup decreased their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Finally, Mizuho decreased their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, September 15th.

Northern Oil and Gas Stock Down 3.5%

Shares of Northern Oil and Gas stock opened at $20.45 on Monday. The company has a market cap of $2.00 billion, a P/E ratio of 3.37 and a beta of 1.61. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. Northern Oil and Gas has a one year low of $19.88 and a one year high of $44.31. The firm has a fifty day moving average of $24.11 and a two-hundred day moving average of $26.23.

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

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors have recently made changes to their positions in NOG. MassMutual Private Wealth & Trust FSB boosted its position in shares of Northern Oil and Gas by 133.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company’s stock worth $27,000 after purchasing an additional 545 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Northern Oil and Gas by 200.3% during the 2nd quarter. UMB Bank n.a. now owns 955 shares of the company’s stock worth $27,000 after purchasing an additional 637 shares in the last quarter. First Horizon Corp purchased a new stake in shares of Northern Oil and Gas during the 3rd quarter worth $27,000. Pinnacle Holdings LLC purchased a new stake in shares of Northern Oil and Gas during the 1st quarter worth $28,000. Finally, Laurel Wealth Advisors LLC boosted its position in shares of Northern Oil and Gas by 2,736.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock worth $29,000 after purchasing an additional 985 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

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.