Northern Oil and Gas (NYSE:NOG) Price Target Cut to $33.00 by Analysts at Mizuho

Northern Oil and Gas (NYSE:NOG - Get Free Report) had its price objective cut by research analysts at Mizuho from $35.00 to $33.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's target price points to a potential upside of 16.07% from the company's current price.

Several other analysts also recently weighed in on NOG. Truist Financial lifted their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Royal Bank of Canada decreased their price target on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating for the company in a research note on Monday, April 14th. Bank of America decreased their price target on shares of Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Piper Sandler decreased their price target on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, January 29th. Finally, Capital One Financial downgraded shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $40.56.

Northern Oil and Gas Trading Down 1.1%

Shares of NYSE:NOG traded down $0.31 during trading hours on Tuesday, hitting $28.43. 1,241,774 shares of the company's stock traded hands, compared to its average volume of 1,534,928. Northern Oil and Gas has a 1 year low of $19.88 and a 1 year high of $44.31. The business has a fifty day moving average price of $26.36 and a 200-day moving average price of $33.74. The firm has a market capitalization of $2.81 billion, a P/E ratio of 5.53 and a beta of 1.47. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.21. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The business had revenue of $602.10 million during the quarter, compared to analyst estimates of $568.87 million. During the same quarter in the previous year, the business earned $1.28 earnings per share. The company's revenue for the quarter was up 51.9% compared to the same quarter last year. Equities analysts expect that Northern Oil and Gas will post 5.18 earnings per share for the current year.

Northern Oil and Gas declared that its Board of Directors has approved a share repurchase program on Tuesday, March 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Northern Oil and Gas

In related news, CEO Nicholas L. O'grady acquired 1,000 shares of the stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the transaction, the chief executive officer now owns 226,189 shares in the company, valued at approximately $6,215,673.72. This trade represents a 0.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bahram Akradi purchased 40,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $28.03 per share, with a total value of $1,121,200.00. Following the purchase, the director now owns 1,662,016 shares in the company, valued at $46,586,308.48. This represents a 2.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in shares of Northern Oil and Gas during the 1st quarter worth approximately $36,288,000. Dimensional Fund Advisors LP boosted its holdings in Northern Oil and Gas by 30.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company's stock valued at $129,939,000 after purchasing an additional 1,001,493 shares during the period. Raymond James Financial Inc. purchased a new position in Northern Oil and Gas in the fourth quarter valued at $21,691,000. BW Gestao de Investimentos Ltda. acquired a new stake in Northern Oil and Gas in the first quarter valued at $14,137,000. Finally, American Century Companies Inc. raised its stake in Northern Oil and Gas by 6.4% in the first quarter. American Century Companies Inc. now owns 6,953,377 shares of the company's stock valued at $210,201,000 after buying an additional 415,781 shares in the last quarter. 98.80% of the stock is 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.