Northern Oil and Gas (NYSE:NOG) PT Raised to $56.00

Northern Oil and Gas (NYSE:NOG) had its price objective upped by Truist Financial from $55.00 to $56.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 39.10% from the company’s current price.

A number of other brokerages have also commented on NOG. Jefferies Financial Group increased their price target on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Raymond James dropped their price target on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Citigroup decreased their price objective on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Finally, Stifel Nicolaus upped their target price on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas has a consensus rating of “Moderate Buy” and a consensus price target of $47.90.

Northern Oil and Gas Price Performance

Shares of NOG traded up $0.29 during mid-day trading on Wednesday, reaching $40.26. 1,098,393 shares of the stock traded hands, compared to its average volume of 1,289,877. The company has a current ratio of 0.96, a quick ratio of 1.32 and a debt-to-equity ratio of 0.97. Northern Oil and Gas has a 1 year low of $29.57 and a 1 year high of $43.75. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 6.53 and a beta of 1.84. The firm has a fifty day moving average price of $39.61 and a 200 day moving average price of $37.36.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $396.35 million for the quarter, compared to analysts’ expectations of $505.67 million. During the same quarter last year, the firm posted $1.76 EPS. The company’s revenue was down 31.9% compared to the same quarter last year. As a group, equities research analysts predict that Northern Oil and Gas will post 5.53 earnings per share for the current year.

Insider Buying and Selling

In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the sale, the insider now owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider James B. Evans sold 945 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the transaction, the president now owns 122,359 shares in the company, valued at approximately $4,649,642. The disclosure for this sale can be found here. Insiders have sold a total of 10,944 shares of company stock valued at $436,614 over the last three months. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC boosted its position in shares of Northern Oil and Gas by 4.8% during the third quarter. Private Advisor Group LLC now owns 6,118 shares of the company’s stock valued at $246,000 after purchasing an additional 282 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Northern Oil and Gas by 1.3% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock valued at $823,000 after buying an additional 290 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Northern Oil and Gas by 1.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 29,761 shares of the company’s stock worth $1,197,000 after buying an additional 306 shares during the period. Kestra Advisory Services LLC increased its stake 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 in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in 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 valued at $450,000 after acquiring an additional 332 shares during the period. 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.