Northern Oil and Gas, Inc. (NYSE:NOG) Receives $29.29 Consensus Price Target from Analysts

Northern Oil and Gas, Inc. (NYSE:NOG) has earned an average rating of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $29.2857.

NOG has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Thursday, January 22nd. Royal Bank Of Canada reduced their price target on Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 20th. Morgan Stanley set a $24.00 price objective on Northern Oil and Gas and gave the company an “underweight” rating in a report on Friday, January 23rd. Finally, Mizuho set a $29.00 target price on Northern Oil and Gas in a report on Wednesday, January 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its position in shares of Northern Oil and Gas by 55.1% in the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock valued at $1,233,000 after buying an additional 14,492 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Northern Oil and Gas by 3.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock worth $1,763,000 after acquiring an additional 1,865 shares during the period. Jones Financial Companies Lllp raised its holdings in Northern Oil and Gas by 181.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after acquiring an additional 713 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Northern Oil and Gas by 5.0% during the 1st quarter. Empowered Funds LLC now owns 65,217 shares of the company’s stock valued at $1,972,000 after acquiring an additional 3,124 shares during the period. Finally, Intech Investment Management LLC lifted its position in shares of Northern Oil and Gas by 41.8% during the 1st quarter. Intech Investment Management LLC now owns 46,453 shares of the company’s stock valued at $1,404,000 after acquiring an additional 13,690 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $25.52 on Wednesday. Northern Oil and Gas has a 52 week low of $19.88 and a 52 week high of $36.16. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 14.42 and a beta of 1.01. The company has a 50-day simple moving average of $23.11 and a 200 day simple moving average of $23.55. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.10 and a current ratio of 1.10.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.