Northern Oil and Gas (NYSE:NOG) Given New $55.00 Price Target at Stifel Nicolaus

Northern Oil and Gas (NYSE:NOG) had its target price hoisted by Stifel Nicolaus from $54.00 to $55.00 in a report issued on Tuesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

NOG has been the subject of several other research reports. Royal Bank of Canada reaffirmed an outperform rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Jefferies Financial Group raised their price target on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the stock a buy rating in a research report on Thursday, March 21st. Piper Sandler raised their price target on shares of Northern Oil and Gas from $38.00 to $42.00 and gave the stock a neutral rating in a research report on Friday, April 19th. Bank of America downgraded shares of Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 price target for the company. in a research report on Friday, January 5th. Finally, Raymond James decreased their price target on shares of Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating for the company in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Northern Oil and Gas has a consensus rating of Moderate Buy and a consensus target price of $47.30.

Northern Oil and Gas Stock Up 0.4 %

Shares of NYSE:NOG opened at $43.25 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. Northern Oil and Gas has a 52-week low of $29.57 and a 52-week high of $43.64. The company has a 50 day moving average of $38.96 and a two-hundred day moving average of $37.33. The company has a market capitalization of $4.37 billion, a price-to-earnings ratio of 4.31 and a beta of 1.86.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The firm had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. During the same period last year, the business earned $1.43 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. As a group, analysts forecast that Northern Oil and Gas will post 5.53 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.60 annualized dividend and a yield of 3.70%. Northern Oil and Gas’s payout ratio is 15.94%.

Insider Buying and Selling at Northern Oil and Gas

In other news, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the transaction, the insider now owns 73,753 shares of the company’s stock, valued at $3,097,626. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the transaction, the insider now owns 73,753 shares of the company’s stock, valued at $3,097,626. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total transaction of $153,675.00. Following the transaction, the chief executive officer now directly owns 228,082 shares of the company’s stock, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Insiders sold a total of 10,944 shares of company stock worth $436,614 over the last 90 days. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently modified their holdings of NOG. Principal Securities Inc. acquired a new stake in Northern Oil and Gas in the fourth quarter worth about $42,000. TFO Wealth Partners LLC lifted its holdings in Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after purchasing an additional 1,121 shares during the period. SRS Capital Advisors Inc. lifted its holdings in Northern Oil and Gas by 305.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after purchasing an additional 927 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Northern Oil and Gas in the third quarter worth about $67,000. Finally, Quadrant Capital Group LLC lifted its holdings in Northern Oil and Gas by 74.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after purchasing an additional 930 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

About Northern Oil and Gas

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.