Citigroup Issues Pessimistic Forecast for Northern Oil and Gas (NYSE:NOG) Stock Price

Northern Oil and Gas (NYSE:NOG) had its price objective reduced by equities researchers at Citigroup from $55.00 to $45.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 40.45% from the company’s previous close.

Several other brokerages have also recently commented on NOG. Truist Financial increased their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Morgan Stanley set a $43.00 target price on Northern Oil and Gas in a report on Wednesday, January 22nd. Capital One Financial downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Royal Bank of Canada dropped their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Finally, Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and a consensus target price of $46.89.

Northern Oil and Gas Stock Down 0.5 %

Shares of Northern Oil and Gas stock opened at $32.04 on Tuesday. The firm has a market cap of $3.18 billion, a PE ratio of 6.23 and a beta of 1.82. The business’s 50 day simple moving average is $37.13 and its 200 day simple moving average is $38.18. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. Northern Oil and Gas has a 52-week low of $31.78 and a 52-week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. On average, analysts predict that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Insider Activity

In other news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

Several hedge funds have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in Northern Oil and Gas during the 3rd quarter worth $25,000. Headlands Technologies LLC bought a new position in Northern Oil and Gas during the fourth quarter worth about $29,000. Signaturefd LLC increased its position in Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after acquiring an additional 427 shares during the period. Blue Trust Inc. raised its stake in Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after purchasing an additional 801 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after purchasing an additional 259 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

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.