Northern Oil and Gas (NYSE:NOG) Price Target Lowered to $33.00 at Royal Bank Of Canada

Northern Oil and Gas (NYSE:NOG - Get Free Report) had its target price lowered by investment analysts at Royal Bank Of Canada from $34.00 to $33.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 20.53% from the stock's current price.

A number of other equities analysts have also recently weighed in on the stock. Bank of America increased their price objective on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Mizuho cut their target price on shares of Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley decreased their price target on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Citigroup boosted their price objective on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Finally, Piper Sandler decreased their target price on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $38.78.

Northern Oil and Gas Price Performance

NYSE NOG traded up $0.45 during trading hours on Monday, reaching $27.38. The company's stock had a trading volume of 1,041,084 shares, compared to its average volume of 1,601,049. Northern Oil and Gas has a 1-year low of $19.88 and a 1-year high of $44.31. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 4.26 and a beta of 1.50. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92. The company's 50-day moving average is $29.04 and its two-hundred day moving average is $30.58.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The business had revenue of $602.10 million during the quarter, compared to analysts' expectations of $568.87 million. During the same period in the prior year, the business earned $1.28 earnings per share. The company's quarterly revenue was up 51.9% compared to the same quarter last year. On average, equities analysts predict that Northern Oil and Gas will post 5.18 EPS for the current year.

Institutional Trading of 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 holdings in shares of Northern Oil and Gas by 133.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company's stock valued at $27,000 after purchasing an additional 545 shares during the last quarter. UMB Bank n.a. increased its stake 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 valued at $27,000 after buying an additional 637 shares during the period. Pinnacle Holdings LLC bought a new stake in Northern Oil and Gas during the first quarter worth approximately $28,000. Headlands Technologies LLC acquired a new stake in shares of Northern Oil and Gas in the fourth quarter valued at $29,000. Finally, Signaturefd LLC boosted its position in shares of Northern Oil and Gas by 60.0% during the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after purchasing an additional 405 shares in the last quarter. 98.80% of the stock is owned by 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.