Fintel reports that on May 17, 2023, RBC Capital reiterated coverage of Northern Oil and Gas (AMEX:NOG) with a Outperform recommendation.
Analyst Price Forecast Suggests 58.78% Upside
As of May 11, 2023, the average one-year price target for Northern Oil and Gas is 48.11. The forecasts range from a low of 38.38 to a high of $63.00. The average price target represents an increase of 58.78% from its latest reported closing price of 30.30.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Northern Oil and Gas is 2,151MM, an increase of 19.54%. The projected annual non-GAAP EPS is 11.29.
What is the Fund Sentiment?
There are 552 funds or institutions reporting positions in Northern Oil and Gas. This is a decrease of 6 owner(s) or 1.08% in the last quarter. Average portfolio weight of all funds dedicated to NOG is 0.33%, an increase of 2.32%. Total shares owned by institutions increased in the last three months by 10.63% to 104,628K shares. 
The put/call ratio of NOG is 0.54, indicating a bullish outlook.
What are Other Shareholders Doing?
SMCWX – SMALLCAP WORLD FUND INC holds 6,054K shares representing 7.12% ownership of the company. No change in the last quarter.
Capital World Investors holds 5,254K shares representing 6.18% ownership of the company. In it’s prior filing, the firm reported owning 6,054K shares, representing a decrease of 15.23%. The firm decreased its portfolio allocation in NOG by 17.13% over the last quarter.
Angelo Gordon & Co. holds 4,378K shares representing 5.15% ownership of the company. In it’s prior filing, the firm reported owning 5,114K shares, representing a decrease of 16.82%. The firm increased its portfolio allocation in NOG by 14.92% over the last quarter.
Invesco holds 2,849K shares representing 3.35% ownership of the company. In it’s prior filing, the firm reported owning 2,493K shares, representing an increase of 12.50%. The firm decreased its portfolio allocation in NOG by 90.08% over the last quarter.
XOP – SPDR(R) S&P(R) Oil & Gas Exploration & Production ETF holds 2,808K shares representing 3.30% ownership of the company. In it’s prior filing, the firm reported owning 1,938K shares, representing an increase of 30.99%. The firm increased its portfolio allocation in NOG by 33.30% over the last quarter.
Northern Oil and Gas Background Information
(This description is provided by the company.)
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the Williston Basin Bakken and Three Forks play in North Dakota and Montana.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
