Northern Oil and Gas (NYSE:NOG) Stock Price Expected to Rise, Piper Sandler Analyst Says

Northern Oil and Gas (NYSE:NOG) had its price target increased by Piper Sandler from $40.00 to $41.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts have also recently commented on NOG. StockNews.com cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Truist Financial upped their price objective on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Mizuho assumed coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas presently has an average rating of “Moderate Buy” and a consensus target price of $47.60.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $41.25 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $4.12 billion, a P/E ratio of 4.95 and a beta of 1.80. The firm’s fifty day simple moving average is $37.51 and its two-hundred day simple moving average is $38.49. Northern Oil and Gas has a 12 month low of $31.13 and a 12 month high of $43.80.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The business had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business’s quarterly revenue was up 140.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 earnings per share. As a group, analysts predict that Northern Oil and Gas will post 5.38 EPS for the current year.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the sale, the insider now owns 105,713 shares in the company, valued at approximately $3,727,440.38. This trade represents a 1.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the 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 completion of the sale, the president now owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,508 shares of company stock worth $248,113. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Northern Oil and Gas by 1.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock valued at $849,000 after acquiring an additional 320 shares during the period. Easterly Investment Partners LLC grew its position in shares of Northern Oil and Gas by 0.8% during the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock valued at $1,792,000 after acquiring an additional 380 shares during the period. Signaturefd LLC grew its position in shares of Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after acquiring an additional 427 shares during the period. CWM LLC grew its position in shares of Northern Oil and Gas by 24.8% during the 3rd quarter. CWM LLC now owns 2,237 shares of the company’s stock valued at $79,000 after acquiring an additional 444 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Northern Oil and Gas by 91.5% during the 2nd 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 period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

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.