Mizuho Forecasts Strong Price Appreciation for Northern Oil and Gas (NYSE:NOG) Stock

Northern Oil and Gas (NYSE:NOG) had its price target boosted by analysts at Mizuho from $28.00 to $30.00 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price target would indicate a potential upside of 32.74% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Morgan Stanley reaffirmed an “underweight” rating and set a $26.00 price objective (down from $27.00) on shares of Northern Oil and Gas in a report on Tuesday, October 14th. Citigroup decreased their price objective on Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Wednesday, October 8th. Finally, William Blair initiated coverage on Northern Oil and Gas in a research note on Monday, August 25th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.25.

Northern Oil and Gas Trading Down 3.1%

Northern Oil and Gas stock opened at $22.60 on Friday. The business has a 50 day moving average price of $22.44 and a two-hundred day moving average price of $25.58. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.05. Northern Oil and Gas has a 12 month low of $19.88 and a 12 month high of $42.35. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 12.77 and a beta of 1.05.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Monday, March 6th. The company reported $1.06 earnings per share (EPS) for the quarter. The business had revenue of $319.19 million for the quarter. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%. As a group, equities analysts forecast that Northern Oil and Gas will post 5.18 EPS for the current year.

Hedge Funds Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its stake in Northern Oil and Gas by 12.6% in the 1st quarter. Cetera Investment Advisers now owns 15,484 shares of the company’s stock worth $468,000 after purchasing an additional 1,735 shares during the period. LPL Financial LLC lifted its stake in Northern Oil and Gas by 20.7% in the 1st quarter. LPL Financial LLC now owns 78,146 shares of the company’s stock valued at $2,362,000 after acquiring an additional 13,377 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Northern Oil and Gas by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,141,754 shares of the company’s stock worth $34,515,000 after acquiring an additional 82,855 shares during the last quarter. Nuveen LLC bought a new position in shares of Northern Oil and Gas during the 1st quarter worth approximately $36,288,000. Finally, Sit Investment Associates Inc. raised its holdings in shares of Northern Oil and Gas by 2.0% in the first quarter. Sit Investment Associates Inc. now owns 174,550 shares of the company’s stock valued at $5,277,000 after purchasing an additional 3,450 shares during the last quarter. 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.