Northern Oil and Gas (NYSE:NOG) Price Target Raised to $41.00

Northern Oil and Gas (NYSE:NOG) had its target price raised by Piper Sandler from $40.00 to $41.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

NOG has been the subject of a number of other research reports. StockNews.com cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Truist Financial upped their price objective on Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley cut their target price on 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. Jefferies Financial Group started coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. Finally, Mizuho began coverage on Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Northern Oil and Gas Stock Up 1.8 %

Shares of NOG opened at $42.32 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The company has a 50-day simple moving average of $38.10 and a 200-day simple moving average of $38.55. Northern Oil and Gas has a 52 week low of $31.13 and a 52 week high of $43.80. The firm has a market capitalization of $4.22 billion, a P/E ratio of 5.08 and a beta of 1.80.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The firm had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter in the prior year, the firm posted $1.73 EPS. The company’s revenue for the quarter was up 140.0% on a year-over-year basis. On average, equities research analysts expect that Northern Oil and Gas will post 5.42 earnings per share for the current year.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the transaction, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Erik J. Romslo sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the transaction, the insider now directly owns 105,713 shares in the company, valued at $3,727,440.38. This trade represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,508 shares of company stock worth $248,113. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

Several large investors have recently bought and sold shares of NOG. Vanguard Group Inc. raised its position in shares of Northern Oil and Gas by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after acquiring an additional 43,940 shares during the last quarter. American Century Companies Inc. increased its holdings in Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after purchasing an additional 552,645 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Northern Oil and Gas by 45.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after buying an additional 789,985 shares during the period. Geode Capital Management LLC boosted its holdings in Northern Oil and Gas by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock worth $80,884,000 after buying an additional 100,761 shares during the last quarter. Finally, Copeland Capital Management LLC grew its position in shares of Northern Oil and Gas by 0.6% during the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock worth $74,245,000 after buying an additional 12,079 shares during the period. 98.80% of the stock is currently 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.