Northern Oil and Gas (NYSE:NOG) Given New $42.00 Price Target at Piper Sandler

Northern Oil and Gas (NYSE:NOG) had its price objective upped by analysts at Piper Sandler from $38.00 to $42.00 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective would suggest a potential downside of 1.34% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Bank of America lowered Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 target price on the stock. in a research report on Friday, January 5th. Truist Financial cut their target price on Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Citigroup cut their target price on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. Finally, Stifel Nicolaus cut their target price on Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued 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 has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Northern Oil and Gas Stock Up 1.2 %

NYSE:NOG traded up $0.52 during mid-day trading on Friday, reaching $42.57. The company’s stock had a trading volume of 710,626 shares, compared to its average volume of 1,261,349. The firm has a market capitalization of $4.30 billion, a PE ratio of 4.26 and a beta of 1.86. The stock has a fifty day moving average of $37.80 and a 200-day moving average of $37.16. Northern Oil and Gas has a 1 year low of $29.57 and a 1 year high of $43.64. 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 (NYSE:NOG) last issued its quarterly earnings data on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). The firm had revenue of $543.40 million for the quarter, compared to analyst estimates of $555.31 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. Northern Oil and Gas’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 EPS. Equities research analysts forecast that Northern Oil and Gas will post 5.43 earnings per share for the current year.

Insider Buying and Selling

In related news, insider James B. Evans sold 945 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James B. Evans sold 945 shares of Northern Oil and Gas stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the transaction, the insider now directly owns 83,872 shares of the company’s stock, valued at $3,187,136. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,944 shares of company stock valued at $436,614. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Northern Oil and Gas in the 2nd quarter valued at about $31,000. TFO Wealth Partners LLC increased its stake in shares of Northern Oil and Gas by 112,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after buying an additional 1,121 shares during the period. Principal Securities Inc. purchased a new stake in shares of Northern Oil and Gas during the fourth quarter worth approximately $42,000. Captrust Financial Advisors increased its stake in shares of Northern Oil and Gas by 1,349.4% during the second quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock worth $29,000 after buying an additional 1,066 shares during the period. Finally, SRS Capital Advisors Inc. increased its stake in shares of 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 during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

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.