Northern Oil and Gas (NYSE:NOG) Price Target Raised to $55.00

Northern Oil and Gas (NYSE:NOG) had its target price lifted by Truist Financial from $52.00 to $55.00 in a research report sent to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Piper Sandler cut their price objective on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Morgan Stanley lowered 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 note on Monday, September 16th. Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a research note on Monday, December 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 target price on shares of Northern Oil and Gas in a research note on Friday, January 10th. Finally, Jefferies Financial Group started coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Northern Oil and Gas Stock Up 1.5 %

Shares of NYSE NOG opened at $41.77 on Monday. The stock has a market cap of $4.17 billion, a PE ratio of 5.01 and a beta of 1.85. The business has a fifty day moving average of $39.99 and a two-hundred day moving average of $38.75. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $44.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business’s revenue was up 140.0% on a year-over-year basis. During the same period last year, the business earned $1.73 earnings per share. As a group, equities research analysts expect that Northern Oil and Gas will post 5.4 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Insider Activity

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the sale, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold 1,836 shares of company stock worth $72,869 in the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors have recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Northern Oil and Gas by 1.5% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,201 shares of the company’s stock valued at $822,000 after acquiring an additional 350 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Northern Oil and Gas by 21.0% during the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after purchasing an additional 368 shares during the last quarter. Easterly Investment Partners LLC increased 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 worth $1,792,000 after purchasing an additional 380 shares during the last quarter. Signaturefd LLC increased 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 worth $30,000 after purchasing an additional 427 shares during the last quarter. Finally, CWM LLC increased 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 worth $79,000 after purchasing an additional 444 shares during the last quarter. 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.