Northern Oil and Gas (NYSE:NOG) Price Target Raised to $51.00

Northern Oil and Gas (NYSE:NOG) had its target price lifted by Truist Financial from $44.00 to $51.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Morgan Stanley dropped their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Piper Sandler decreased their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective on the stock. Mizuho initiated coverage on shares of Northern Oil and Gas in a research report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective on the stock. Finally, StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Northern Oil and Gas Stock Up 1.0 %

NOG traded up $0.39 during trading on Thursday, hitting $40.93. 1,255,271 shares of the company’s stock were exchanged, compared to its average volume of 1,139,456. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $43.80. The company has a quick ratio of 0.89, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. The stock has a market cap of $4.10 billion, a P/E ratio of 4.91 and a beta of 1.80. The business’s 50 day moving average is $37.15 and its two-hundred day moving average is $38.56.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The firm’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. As a group, equities analysts expect that Northern Oil and Gas will post 5.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Northern Oil and Gas news, CFO Chad W. Allen sold 1,500 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at $3,351,680. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Chad W. Allen sold 1,500 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 83,792 shares in the company, valued at approximately $3,351,680. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now owns 107,876 shares of the company’s stock, valued at $4,153,226. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,508 shares of company stock valued at $248,113. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Northern Oil and Gas

A number of institutional investors have recently bought and sold shares of NOG. Janney Montgomery Scott LLC increased its stake in Northern Oil and Gas by 17.0% in the first quarter. Janney Montgomery Scott LLC now owns 9,992 shares of the company’s stock worth $396,000 after purchasing an additional 1,453 shares during the period. Texas Permanent School Fund Corp increased its stake in Northern Oil and Gas by 1.1% in the first quarter. Texas Permanent School Fund Corp now owns 79,883 shares of the company’s stock worth $3,170,000 after purchasing an additional 875 shares during the period. Empowered Funds LLC increased its stake in Northern Oil and Gas by 22.2% in the first quarter. Empowered Funds LLC now owns 25,523 shares of the company’s stock worth $1,013,000 after purchasing an additional 4,631 shares during the period. Swiss National Bank increased its stake in Northern Oil and Gas by 1.1% in the first quarter. Swiss National Bank now owns 178,500 shares of the company’s stock worth $7,083,000 after purchasing an additional 2,000 shares during the period. Finally, Isthmus Partners LLC increased its stake in Northern Oil and Gas by 49.9% in the first quarter. Isthmus Partners LLC now owns 60,324 shares of the company’s stock worth $2,394,000 after purchasing an additional 20,070 shares during the period. 98.80% of the stock is currently owned by 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.