Northern Oil and Gas (NYSE:NOG) Price Target Lowered to $28.00 at Mizuho

Key Points

• Mizuho has cut its price target for Northern Oil and Gas from $32.00 to $28.00, maintaining a "neutral" rating, which suggests a potential upside of 10.30% from the stock's previous close.
• Other analysts have offered mixed ratings, with Citigroup revising its target price to $38.00 and Morgan Stanley lowering theirs to $27.00.
• Recent quarterly earnings surpassed estimates, with Northern Oil and Gas reporting $1.37 earnings per share, significantly higher than the forecasted $0.87.

Northern Oil and Gas (NYSE:NOG - Get Free Report) had its price target cut by equities researchers at Mizuho from $32.00 to $28.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Mizuho's target price suggests a potential upside of 11.49% from the stock's previous close.

Several other analysts have also recently weighed in on NOG. Bank of America lifted their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Royal Bank Of Canada dropped their price target on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Monday, July 14th. Morgan Stanley cut Northern Oil and Gas from a "positive" rating to an "underweight" rating and dropped their price target for the stock from $29.00 to $27.00 in a report on Monday, August 18th. Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 price objective (down from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Finally, William Blair started coverage on Northern Oil and Gas in a report on Monday, August 25th. They issued an "outperform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $36.44.

Northern Oil and Gas Stock Performance

Shares of NOG stock traded down $1.15 during trading on Monday, reaching $25.11. 4,362,895 shares of the company's stock were exchanged, compared to its average volume of 1,808,398. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $2.45 billion, a PE ratio of 4.14 and a beta of 1.67. Northern Oil and Gas has a twelve month low of $19.88 and a twelve month high of $44.31. The firm's fifty day moving average price is $26.09 and its 200-day moving average price is $27.09.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.50. The business had revenue of $706.81 million for the quarter, compared to analyst estimates of $555.54 million. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.The firm's revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. As a group, sell-side analysts anticipate that Northern Oil and Gas will post 5.18 EPS for the current year.

Institutional Investors Weigh In On Northern Oil and Gas

Hedge funds and other institutional investors have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in Northern Oil and Gas by 133.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company's stock worth $27,000 after acquiring an additional 545 shares during the last quarter. UMB Bank n.a. grew its position in Northern Oil and Gas by 200.3% during the 2nd quarter. UMB Bank n.a. now owns 955 shares of the company's stock worth $27,000 after acquiring an additional 637 shares during the last quarter. Pinnacle Holdings LLC bought a new stake in Northern Oil and Gas during the 1st quarter worth $28,000. Laurel Wealth Advisors LLC grew its position in Northern Oil and Gas by 2,736.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company's stock worth $29,000 after acquiring an additional 985 shares during the last quarter. Finally, Signaturefd LLC grew its position in Northern Oil and Gas by 60.0% during the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock worth $33,000 after acquiring an additional 405 shares during the last quarter. Institutional investors own 98.80% of the company's stock.

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. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.