Northern Oil and Gas (NYSE:NOG) Price Target Increased to $56.00 by Analysts at Truist Financial

Northern Oil and Gas (NYSE:NOG) had its price target boosted by Truist Financial from $55.00 to $56.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also weighed in on the stock. Raymond James lowered their price objective 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 note on Wednesday, January 24th. Jefferies Financial Group lifted their price objective on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a buy rating in a report on Thursday, March 21st. Citigroup lowered their target price on Northern Oil and Gas from $50.00 to $45.00 and set a buy rating for the company in a report on Wednesday, February 28th. Morgan Stanley lifted their price target on Northern Oil and Gas from $38.00 to $41.00 and gave the company an equal weight rating in a report on Monday, April 15th. Finally, Bank of America cut Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 price objective for the company. in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Northern Oil and Gas currently has a consensus rating of Moderate Buy and a consensus target price of $47.40.

Northern Oil and Gas Stock Performance

Shares of NYSE:NOG opened at $39.67 on Wednesday. The firm’s 50 day simple moving average is $39.38 and its 200-day simple moving average is $37.35. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.32 and a current ratio of 0.96. Northern Oil and Gas has a one year low of $29.57 and a one year high of $43.75. The firm has a market cap of $4.01 billion, a PE ratio of 6.43 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The company had revenue of $396.35 million for the quarter, compared to the consensus estimate of $505.67 million. During the same period last year, the business posted $1.76 EPS. Northern Oil and Gas’s quarterly revenue was down 31.9% on a year-over-year basis. As a group, equities analysts predict that Northern Oil and Gas will post 5.53 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.03%. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the sale, the insider now owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the transaction, the president now directly owns 122,359 shares in the company, valued at approximately $4,649,642. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James B. Evans sold 3,150 shares of the firm’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 sale, the insider now owns 73,753 shares in the company, valued at approximately $3,097,626. 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 in the last ninety days. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Private Advisor Group LLC increased its stake in shares of Northern Oil and Gas by 4.8% in the 3rd quarter. Private Advisor Group LLC now owns 6,118 shares of the company’s stock valued at $246,000 after purchasing an additional 282 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of Northern Oil and Gas by 1.3% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock valued at $823,000 after buying an additional 290 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Northern Oil and Gas by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 29,761 shares of the company’s stock valued at $1,197,000 after buying an additional 306 shares in the last quarter. Kestra Advisory Services LLC raised its stake in shares of Northern Oil and Gas by 1.1% during the 3rd quarter. Kestra Advisory Services LLC now owns 27,673 shares of the company’s stock worth $1,113,000 after buying an additional 309 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Northern Oil and Gas by 3.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,197 shares of the company’s stock valued at $450,000 after buying an additional 332 shares in the last quarter. Institutional investors and hedge funds 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.