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), indicating a cautious stance on the stock's performance.
• Recent adjustments from various analysts have seen target prices for NOG decrease, with Citigroup lowering it to $28.00 from $32.00, while Morgan Stanley set theirs at $26.00.
• The stock has seen significant institutional investment, with 98.80% of shares owned by hedge funds and other institutional investors, reflecting strong market interest.

Northern Oil and Gas (NYSE:NOG - Get Free Report)'s stock had its "hold (c-)" rating restated by Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

A number of other research firms have also recently commented on NOG. Citigroup dropped their target price on Northern Oil and Gas from $32.00 to $28.00 and set a "buy" rating on the stock in a research report on Monday, October 20th. Piper Sandler restated a "neutral" rating and set a $25.00 target price (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. William Blair assumed coverage on Northern Oil and Gas in a research report on Monday, August 25th. They set an "outperform" rating on the stock. Mizuho dropped their target price on Northern Oil and Gas from $32.00 to $28.00 and set a "neutral" rating on the stock in a research report on Monday, September 15th. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $26.00 price objective (down from $27.00) on shares of Northern Oil and Gas in a report on Tuesday, October 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 company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $33.00.

Northern Oil and Gas Price Performance

Shares of NOG opened at $21.57 on Friday. The business's 50-day moving average is $24.57 and its two-hundred day moving average is $26.31. The company has a market capitalization of $2.10 billion, a P/E ratio of 3.56 and a beta of 1.61. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. Northern Oil and Gas has a fifty-two week low of $19.88 and a fifty-two week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings results on Monday, March 6th. The company reported $1.06 earnings per share for the quarter. The company had revenue of $319.19 million for the quarter. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. Research analysts predict that Northern Oil and Gas will post 5.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. DLD Asset Management LP lifted its stake in Northern Oil and Gas by 42.9% in the 2nd quarter. DLD Asset Management LP now owns 25,000,000 shares of the company's stock worth $708,750,000 after purchasing an additional 7,500,000 shares in the last quarter. American Century Companies Inc. raised its position in shares of Northern Oil and Gas by 6.4% during the 1st 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 during the period. Dimensional Fund Advisors LP raised its position in shares of Northern Oil and Gas by 30.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company's stock valued at $129,939,000 after buying an additional 1,001,493 shares during the period. Allspring Global Investments Holdings LLC grew its position in Northern Oil and Gas by 25.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,951,505 shares of the company's stock worth $56,867,000 after acquiring an additional 397,128 shares during the period. Finally, Channing Capital Management LLC grew its position in Northern Oil and Gas by 8.7% in the first quarter. Channing Capital Management LLC now owns 1,920,258 shares of the company's stock worth $58,049,000 after acquiring an additional 153,635 shares during the period. 98.80% of the stock is owned by hedge funds and other institutional investors.

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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