Weiss Ratings Reaffirms "Hold (C-)" Rating for Northern Oil and Gas (NYSE:NOG)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C-)" rating for Northern Oil and Gas (NYSE:NOG) in a recent report to clients.
• Citigroup has raised its price target for the company from $34.00 to $38.00, assigning a "buy" rating, while other analysts have provided mixed ratings ranging from "Strong Buy" to "Sell."
• Northern Oil and Gas reported a significant earnings per share of $1.37 for the last quarter, exceeding analyst expectations, with a revenue increase of 26.0% year-over-year.

Northern Oil and Gas (NYSE:NOG - Get Free Report)'s stock had its "hold (c-)" rating restated by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued reports about the company. Citigroup raised their price objective on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Piper Sandler reissued a "neutral" rating and issued a $25.00 price target (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. William Blair initiated coverage on Northern Oil and Gas in a research report on Monday, August 25th. They issued an "outperform" rating for the company. Morgan Stanley lowered Northern Oil and Gas from a "positive" rating to an "underweight" rating and reduced their price target for the stock from $29.00 to $27.00 in a research report on Monday, August 18th. Finally, 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 on the stock in a research note on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $34.38.

Northern Oil and Gas Price Performance

Shares of NYSE NOG traded down $0.74 during mid-day trading on Wednesday, reaching $23.98. The company's stock had a trading volume of 152,084 shares, compared to its average volume of 1,831,762. The firm has a market capitalization of $2.34 billion, a PE ratio of 4.00 and a beta of 1.61. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a fifty day moving average of $25.31 and a two-hundred day moving average of $26.78. Northern Oil and Gas has a 52 week low of $19.88 and a 52 week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $706.81 million during 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 business's quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. As a group, sell-side analysts anticipate that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Northern Oil and Gas

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

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