Royal Bank Of Canada Lowers Northern Oil and Gas (NYSE:NOG) Price Target to $30.00

Northern Oil and Gas (NYSE:NOG) had its price target reduced by equities researchers at Royal Bank Of Canada from $33.00 to $30.00 in a report released on Tuesday, Marketbeat reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 27.59% from the stock’s current price.

NOG has been the subject of several other reports. Citigroup lowered their target price on Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, October 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Wednesday, October 8th. Mizuho lifted their price objective on Northern Oil and Gas from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Finally, Morgan Stanley reissued an “underweight” rating and set a $26.00 target price (down previously from $27.00) on shares of Northern Oil and Gas in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.57.

Northern Oil and Gas Stock Up 6.2%

Shares of NOG opened at $23.51 on Tuesday. The firm has a 50 day simple moving average of $22.27 and a two-hundred day simple moving average of $24.08. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.10 and a quick ratio of 1.10. Northern Oil and Gas has a one year low of $19.88 and a one year high of $40.72. The company has a market cap of $2.29 billion, a P/E ratio of 13.28 and a beta of 0.98.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Thursday, November 6th. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.21. The firm had revenue of $556.64 million during the quarter, compared to analysts’ expectations of $528.36 million. Northern Oil and Gas had a net margin of 7.61% and a return on equity of 20.61%. The business’s revenue for the quarter was down 26.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 earnings per share. Research analysts forecast that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Tributary Capital Management LLC grew its holdings in shares of Northern Oil and Gas by 146.3% in the third quarter. Tributary Capital Management LLC now owns 1,312,256 shares of the company’s stock valued at $32,544,000 after acquiring an additional 779,492 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its position in Northern Oil and Gas by 390.1% in the third quarter. Campbell & CO Investment Adviser LLC now owns 72,721 shares of the company’s stock worth $1,803,000 after purchasing an additional 57,882 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Northern Oil and Gas by 178.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,857 shares of the company’s stock worth $648,000 after purchasing an additional 14,637 shares during the last quarter. Register Financial Advisors LLC grew its stake in Northern Oil and Gas by 364.4% in the 3rd quarter. Register Financial Advisors LLC now owns 104,547 shares of the company’s stock valued at $2,593,000 after purchasing an additional 82,033 shares during the period. Finally, Creative Planning increased its position in shares of Northern Oil and Gas by 199.2% during the 2nd quarter. Creative Planning now owns 85,157 shares of the company’s stock valued at $2,414,000 after purchasing an additional 56,694 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

About Northern Oil and Gas

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.