Analysts Set Northern Oil and Gas, Inc. (NYSE:NOG) Price Target at $49.00

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have received an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $48.80.

A number of brokerages recently issued reports on NOG. Morgan Stanley boosted their price objective on Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Bank of America upped their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, July 18th. Truist Financial decreased their price target on Northern Oil and Gas from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Stifel Nicolaus upped their price target on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd.

Insider Transactions at Northern Oil and Gas

In other news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the transaction, the chief executive officer now owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $40.86, for a total transaction of $56,877.12. Following the transaction, the president now directly owns 109,020 shares in the company, valued at $4,454,557.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now owns 224,332 shares in the company, valued at $8,526,859.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,534 shares of company stock valued at $252,144. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in Northern Oil and Gas by 91.5% during the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after acquiring an additional 528 shares during the last quarter. Principal Securities Inc. bought a new position in Northern Oil and Gas during the fourth quarter valued at approximately $42,000. TFO Wealth Partners LLC grew its position in 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 valued at $42,000 after acquiring an additional 1,121 shares during the last quarter. SRS Capital Advisors Inc. grew 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 valued at $46,000 after acquiring an additional 927 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Northern Oil and Gas by 74.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after acquiring an additional 930 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Trading Down 2.3 %

Shares of Northern Oil and Gas stock opened at $40.37 on Tuesday. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $43.75. The stock’s 50-day simple moving average is $38.98 and its 200 day simple moving average is $38.01. The stock has a market capitalization of $4.08 billion, a P/E ratio of 6.54 and a beta of 1.80. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.96 and a current ratio of 0.96.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $396.35 million for the quarter, compared to analysts’ expectations of $505.67 million. During the same period in the previous year, the business posted $1.76 EPS. The firm’s quarterly revenue was down 31.9% compared to the same quarter last year. As a group, research analysts anticipate that Northern Oil and Gas will post 5.04 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s payout ratio is 25.93%.

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.