Northern Oil and Gas (NYSE:NOG) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Northern Oil and Gas (NYSE:NOG) from a hold rating to a sell rating in a research report sent to investors on Thursday.

Several other equities analysts also recently weighed in on NOG. Royal Bank of Canada reissued an outperform rating and set a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. Truist Financial cut their target price on Northern Oil and Gas from $57.00 to $54.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Citigroup cut their target price on Northern Oil and Gas from $55.00 to $50.00 and set a buy rating on the stock in a research report on Friday, May 3rd. Bank of America boosted their target price on Northern Oil and Gas from $48.00 to $49.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus boosted their target price on Northern Oil and Gas from $54.00 to $55.00 and gave the company a buy rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $48.90.

Northern Oil and Gas Stock Down 6.9 %

Shares of NOG opened at $38.58 on Thursday. The business’s 50 day moving average is $38.98 and its 200 day moving average is $38.30. The company has a market capitalization of $3.86 billion, a PE ratio of 6.25 and a beta of 1.79. Northern Oil and Gas has a 12-month low of $31.13 and a 12-month high of $43.80. The company has a current ratio of 0.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.26. The business had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.49 EPS. Research analysts expect that Northern Oil and Gas will post 5.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.88, for a total transaction of $52,728.96. Following the completion of the sale, the president now directly owns 107,628 shares in the company, valued at approximately $4,076,948.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $37.88, for a total value of $52,728.96. Following the completion of the sale, the president now directly owns 107,628 shares in the company, valued at $4,076,948.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the sale, the chief executive officer now owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The disclosure for this sale can be found here. Insiders sold 6,534 shares of company stock worth $252,144 in the last three months. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Northern Oil and Gas by 0.4% in the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after purchasing an additional 43,940 shares during the period. Westfield Capital Management Co. LP grew its holdings in Northern Oil and Gas by 13.8% during the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after acquiring an additional 212,030 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Northern Oil and Gas by 5.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock worth $56,850,000 after acquiring an additional 77,537 shares during the period. Principal Financial Group Inc. grew its holdings in Northern Oil and Gas by 1.1% during the first quarter. Principal Financial Group Inc. now owns 1,422,435 shares of the company’s stock worth $56,442,000 after acquiring an additional 16,081 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Northern Oil and Gas by 30.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock worth $51,001,000 after acquiring an additional 324,958 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

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.