Morgan Stanley Raises Northern Oil and Gas (NYSE:NOG) Price Target to $41.00

Northern Oil and Gas (NYSE:NOG) had its target price upped by Morgan Stanley from $38.00 to $41.00 in a research report released on Monday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on NOG. Piper Sandler cut their price target on shares of Northern Oil and Gas from $39.00 to $38.00 and set a neutral rating on the stock in a report on Friday, February 16th. Royal Bank of Canada restated an outperform rating and set a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Bank of America cut shares of Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 price target on the stock. in a report on Friday, January 5th. Truist Financial lowered their price objective on shares of Northern Oil and Gas from $56.00 to $55.00 and set a buy rating on the stock in a research report on Friday, April 5th. Finally, Stifel Nicolaus lowered their price objective on shares of Northern Oil and Gas from $54.00 to $52.00 and set a buy rating on the stock in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $46.60.

Northern Oil and Gas Stock Down 0.7 %

Northern Oil and Gas stock opened at $42.45 on Monday. Northern Oil and Gas has a 1-year low of $29.57 and a 1-year high of $43.64. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 4.23 and a beta of 1.86. The firm’s fifty day moving average price is $37.61 and its two-hundred day moving average price is $37.12. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The firm had revenue of $543.40 million for the quarter, compared to analysts’ expectations of $555.31 million. During the same quarter last year, the firm posted $1.43 earnings per share. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities research analysts predict that Northern Oil and Gas will post 5.31 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 15.94%.

Insider Activity

In other news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total value of $153,675.00. Following the sale, the chief executive officer now owns 228,082 shares of the company’s stock, valued at $9,346,800.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the sale, the president now owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total transaction of $153,675.00. Following the sale, the chief executive officer now directly owns 228,082 shares in the company, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Insiders have sold a total of 10,944 shares of company stock valued at $436,614 over the last quarter. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Northern Oil and Gas

Hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors increased its holdings in Northern Oil and Gas by 1,349.4% during the 2nd quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock worth $29,000 after acquiring an additional 1,066 shares during the period. Quarry LP bought a new stake in Northern Oil and Gas during the 2nd quarter worth approximately $31,000. Principal Securities Inc. bought a new stake in Northern Oil and Gas during the 4th quarter worth approximately $42,000. TFO Wealth Partners LLC increased its holdings in Northern Oil and Gas by 112,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after acquiring an additional 1,121 shares during the period. Finally, SRS Capital Advisors Inc. increased its holdings in Northern Oil and Gas by 305.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after acquiring an additional 927 shares during the period. 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.