Northern Oil and Gas, Inc. (NYSEAMERICAN:NOG) Given Consensus Rating of “Buy” by Brokerages


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Northern Oil and Gas, Inc. (NYSEAMERICAN:NOG) has been given a consensus rating of “Buy” by the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $13.86.

NOG has been the subject of a number of recent analyst reports. Truist upped their price objective on shares of Northern Oil and Gas from $7.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, December 31st. Royal Bank of Canada initiated coverage on shares of Northern Oil and Gas in a research report on Tuesday, January 26th. They set an “outperform” rating and a $14.00 target price for the company. Zacks Investment Research downgraded shares of Northern Oil and Gas from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 5th. Finally, Raymond James initiated coverage on shares of Northern Oil and Gas in a research report on Thursday, January 7th. They set a “strong-buy” rating and a $14.00 target price for the company.

NOG traded down $0.15 on Friday, hitting $12.66. 47,959 shares of the stock were exchanged, compared to its average volume of 1,361,724. Northern Oil and Gas has a 12 month low of $3.35 and a 12 month high of $15.26. The business has a 50-day moving average of $8.99 and a two-hundred day moving average of $6.31. The company has a debt-to-equity ratio of 6.57, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $764.93 million, a price-to-earnings ratio of -0.57 and a beta of 2.76.

Northern Oil and Gas (NYSEAMERICAN:NOG) last posted its quarterly earnings data on Thursday, March 11th. The energy company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). Equities research analysts expect that Northern Oil and Gas will post 1.93 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Northern Oil and Gas by 92.5% during the first quarter. FMR LLC now owns 4,353,200 shares of the energy company’s stock valued at $11,928,000 after purchasing an additional 2,092,100 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Northern Oil and Gas by 512.4% in the fourth quarter. Mackenzie Financial Corp now owns 1,117,600 shares of the energy company’s stock worth $9,790,000 after acquiring an additional 935,100 shares in the last quarter. BlackRock Inc. raised its position in shares of Northern Oil and Gas by 25.2% in the 4th quarter. BlackRock Inc. now owns 657,787 shares of the energy company’s stock worth $5,762,000 after purchasing an additional 132,321 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Northern Oil and Gas by 415.5% in the 4th quarter. Russell Investments Group Ltd. now owns 303,584 shares of the energy company’s stock worth $2,659,000 after purchasing an additional 244,692 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Northern Oil and Gas by 19.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 145,939 shares of the energy company’s stock valued at $1,279,000 after purchasing an additional 23,876 shares during the last quarter. 40.14% of the stock is currently owned by 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. The company primarily holds interests in the Bakken and Three Forks formations in the Williston Basin of North Dakota and Montana.

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Analyst Recommendations for Northern Oil and Gas (NYSEAMERICAN:NOG)

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