Zacks Research Upgrades Northern Oil and Gas (NYSE:NOG) to “Strong-Buy”

Northern Oil and Gas (NYSE:NOG) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

A number of other analysts have also recently issued reports on the company. Scotiabank initiated coverage on Northern Oil and Gas in a research report on Wednesday, October 14th. They set a “sector perform” rating and a $27.00 price objective for the company. Wall Street Zen upgraded Northern Oil and Gas from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Mizuho upped their target price on Northern Oil and Gas from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 14th. Weiss Ratings raised Northern Oil and Gas from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, October 30th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $26.00 price target (up from $25.00) on shares of Northern Oil and Gas in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.56.

Northern Oil and Gas Stock Up 2.2%

Northern Oil and Gas stock opened at $23.40 on Monday. Northern Oil and Gas has a twelve month low of $17.18 and a twelve month high of $31.17. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.80 and a current ratio of 0.59. The firm has a market cap of $2.48 billion, a PE ratio of 5.69 and a beta of 0.85. The firm’s 50 day moving average price is $25.35 and its two-hundred day moving average price is $24.54.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Thursday, November 5th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.09 by $0.23. Northern Oil and Gas had a negative net margin of 27.47% and a positive return on equity of 21.81%. The business had revenue of $345.91 million for the quarter, compared to analysts’ expectations of $617.68 million. During the same period in the previous year, the company posted $1.03 EPS. Northern Oil and Gas’s revenue was up 45.2% on a year-over-year basis. On average, research analysts predict that Northern Oil and Gas will post 3.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Root Financial Partners LLC bought a new stake in Northern Oil and Gas during the third quarter valued at about $28,000. Triumph Capital Management increased its stake in shares of Northern Oil and Gas by 77.8% in the third quarter. Triumph Capital Management now owns 1,600 shares of the company’s stock worth $37,000 after purchasing an additional 700 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Northern Oil and Gas in the second quarter worth about $29,000. Allworth Financial LP bought a new position in shares of Northern Oil and Gas in the second quarter worth about $31,000. Finally, Farther Finance Advisors LLC lifted its position 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 worth $40,000 after purchasing an additional 511 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc. is an independent energy company that acquires interests in oil and natural gas properties across the United States. It primarily holds non-operated working interests, partnering with other companies that manage drilling and production activities. The company’s portfolio spans several major U.S. producing regions, including the Williston, Permian, Appalachian and Uinta basins. Its interests include properties producing crude oil, natural gas and natural gas liquids. Founded in 2006, Northern Oil and Gas initially focused on the Williston Basin.