Northern Oil and Gas (NYSE:NOG) Given New $50.00 Price Target at Citigroup

Northern Oil and Gas (NYSE:NOG) had its target price decreased by analysts at Citigroup from $55.00 to $50.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective points to a potential upside of 24.19% from the company’s current price.

NOG has been the subject of a number of other research reports. Raymond James reduced 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. Truist Financial boosted their price objective on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Piper Sandler upped their price target on 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. Finally, Bank of America downgraded Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price target on the stock. in a research report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.90.

Northern Oil and Gas Trading Up 0.7 %

Shares of NYSE NOG traded up $0.29 during trading hours on Friday, reaching $40.26. The stock had a trading volume of 1,098,393 shares, compared to its average volume of 1,289,877. The company has a current ratio of 0.96, a quick ratio of 1.32 and a debt-to-equity ratio of 0.97. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 6.53 and a beta of 1.84. The business’s fifty day moving average price is $39.61 and its two-hundred day moving average price is $37.36. Northern Oil and Gas has a 52-week low of $29.57 and a 52-week high of $43.75.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. The company had revenue of $396.35 million during the quarter, compared to the consensus estimate of $505.67 million. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. Northern Oil and Gas’s revenue for the quarter was down 31.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.76 earnings per share. Analysts expect that Northern Oil and Gas will post 5.53 EPS for the current fiscal year.

Insider Activity at Northern Oil and Gas

In related news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the transaction, the insider now directly owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Northern Oil and Gas news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the sale, the insider now directly owns 73,753 shares of the company’s stock, valued at $3,097,626. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction 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 completion of the sale, the president now directly owns 122,359 shares in the company, valued at $4,649,642. 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 Investors Weigh In On Northern Oil and Gas

Hedge funds have recently modified their holdings of the company. Principal Securities Inc. purchased a new position in Northern Oil and Gas in the 4th quarter valued at about $42,000. TFO Wealth Partners LLC increased its holdings in shares of 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 valued at $42,000 after purchasing an additional 1,121 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in Northern Oil and Gas by 305.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after buying an additional 927 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Northern Oil and Gas during the third quarter worth $67,000. Finally, Quadrant Capital Group LLC grew its holdings in Northern Oil and Gas by 74.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after buying an additional 930 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.