Northern Oil and Gas (NYSE:NOG) Stock Gets Price Target Boost from Mizuho

by · The Markets Daily

Northern Oil and Gas (NYSE:NOG – Get Free Report) had its price target increased by investment analysts at Mizuho from $29.00 to $30.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective would indicate a potential upside of 15.16% from the company’s previous close.

Several other equities research analysts have also issued reports on NOG. Wall Street Zen raised shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Morgan Stanley set a $25.00 price objective on Northern Oil and Gas and gave the stock an “underweight” rating in a research report on Monday, June 29th. Citigroup reduced their target price on Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Weiss Ratings lowered shares of Northern Oil and Gas from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $31.00 price objective (up from $28.00) on shares of Northern Oil and Gas in a research note on Thursday, September 10th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas has an average rating of “Hold” and an average price target of $31.12.

Read Our Latest Analysis on NOG

Northern Oil and Gas Stock Down 1.3%

Shares of NYSE:NOG traded down $0.34 during trading hours on Wednesday, hitting $26.05. The company’s stock had a trading volume of 670,363 shares, compared to its average volume of 2,595,219. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -5.02 and a beta of 0.90. Northern Oil and Gas has a 52 week low of $17.18 and a 52 week high of $31.17. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.80 and a quick ratio of 0.80. The firm’s fifty day moving average price is $24.83 and its 200 day moving average price is $23.59.

Northern Oil and Gas (NYSE:NOG – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.05). Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The business had revenue of $745.24 million for the quarter, compared to analysts’ expectations of $594.09 million. During the same quarter in the prior year, the company posted $1.37 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, research analysts expect that Northern Oil and Gas will post 3.63 EPS for the current year.

Hedge Funds Weigh In On Northern Oil and Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOG. Transamerica Financial Advisors LLC increased its holdings in shares of Northern Oil and Gas by 22.1% in the second quarter. Transamerica Financial Advisors LLC now owns 2,242 shares of the company’s stock worth $42,000 after acquiring an additional 406 shares in the last quarter. Van Den Berg Management I Inc. lifted its holdings in shares of Northern Oil and Gas by 1.0% during the 2nd quarter. Van Den Berg Management I Inc. now owns 42,782 shares of the company’s stock valued at $776,000 after purchasing an additional 439 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Northern Oil and Gas by 41.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,751 shares of the company’s stock valued at $40,000 after purchasing an additional 511 shares in the last quarter. Isthmus Partners LLC grew its position in shares of Northern Oil and Gas by 0.8% in the 1st quarter. Isthmus Partners LLC now owns 82,358 shares of the company’s stock valued at $2,407,000 after purchasing an additional 619 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Northern Oil and Gas by 18.5% in the 3rd quarter. GAMMA Investing LLC now owns 4,015 shares of the company’s stock valued at $92,000 after purchasing an additional 628 shares during the period. 98.80% of the stock is owned by hedge funds and other institutional investors.

About Northern Oil and Gas

(Get Free Report)

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests in wells, allowing it to participate in hydrocarbon development without serving as the principal operator.

Northern Oil and Gas has built a diversified portfolio across several major U.S. oil and natural gas regions, including the Williston Basin, the Permian Basin and the Appalachian Basin.

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