Northern Oil and Gas (NYSE:NOG) Given New $55.00 Price Target at Stifel Nicolaus

Northern Oil and Gas (NYSE:NOG) had its price objective lifted by stock analysts at Stifel Nicolaus from $54.00 to $55.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 27.20% from the company’s previous close.

NOG has been the subject of a number of other research reports. 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. Morgan Stanley increased their target price on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Raymond James lowered their price target on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Citigroup dropped their price target on shares of Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Finally, Jefferies Financial Group raised their price objective on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Northern Oil and Gas has an average rating of “Moderate Buy” and an average price target of $47.30.

Northern Oil and Gas Stock Performance

NYSE NOG traded up $0.58 during trading hours on Tuesday, hitting $43.24. 385,666 shares of the company’s stock traded hands, compared to its average volume of 1,267,777. Northern Oil and Gas has a 52 week low of $29.57 and a 52 week high of $43.64. The firm has a market capitalization of $4.37 billion, a P/E ratio of 4.30 and a beta of 1.86. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90. The business’s fifty day moving average price is $38.19 and its two-hundred day moving average price is $37.20.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.03). The business had revenue of $543.40 million for the quarter, compared to analysts’ expectations of $555.31 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The company’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.43 EPS. Equities research analysts predict that Northern Oil and Gas will post 5.43 EPS for the current year.

Insider Buying and Selling at Northern Oil and Gas

In other news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the sale, the insider now directly owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider James B. Evans sold 3,150 shares of the business’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 owns 73,753 shares in the company, valued at $3,097,626. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total transaction of $153,675.00. Following the transaction, the chief executive officer now owns 228,082 shares of the company’s stock, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Insiders sold 10,944 shares of company stock worth $436,614 in the last quarter. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northern Oil and Gas

Large investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC boosted its holdings in shares of Northern Oil and Gas by 4.8% in the 3rd quarter. Private Advisor Group LLC now owns 6,118 shares of the company’s stock worth $246,000 after purchasing an additional 282 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in Northern Oil and Gas by 1.3% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock worth $823,000 after buying an additional 290 shares during the period. PNC Financial Services Group Inc. increased its position in Northern Oil and Gas by 1.0% during the third quarter. PNC Financial Services Group Inc. now owns 29,761 shares of the company’s stock valued at $1,197,000 after acquiring an additional 306 shares during the last quarter. Kestra Advisory Services LLC lifted its holdings in shares of Northern Oil and Gas by 1.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 27,673 shares of the company’s stock worth $1,113,000 after acquiring an additional 309 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Northern Oil and Gas by 3.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,197 shares of the company’s stock worth $450,000 after purchasing an additional 332 shares during the period. 98.80% of the stock is owned by institutional investors.

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.