Truist Financial Lowers Northern Oil and Gas (NYSE:NOG) Price Target to $44.00

Northern Oil and Gas (NYSE:NOG) had its price target lowered by analysts at Truist Financial from $55.00 to $44.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 20.88% from the stock’s current price.

A number of other equities research analysts also recently issued reports on NOG. Mizuho initiated coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They set an “outperform” rating and a $47.00 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 for the company in a research note on Monday, September 16th. Bank of America increased their target price on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Piper Sandler dropped their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight 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 an average rating of “Moderate Buy” and an average target price of $46.60.

Northern Oil and Gas Stock Up 2.8 %

NYSE NOG opened at $36.40 on Monday. The stock has a 50 day moving average price of $37.75 and a 200-day moving average price of $39.11. Northern Oil and Gas has a one year low of $31.13 and a one year high of $43.80. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $3.68 billion, a P/E ratio of 5.90 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26. The business had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $542.28 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the company posted $1.49 EPS. As a group, equities analysts predict that Northern Oil and Gas will post 5.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares in the company, valued at approximately $8,526,859.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

Several hedge funds and other institutional investors have recently bought and sold shares of NOG. Franklin Resources Inc. grew its position in shares of Northern Oil and Gas by 11.5% in the 4th quarter. Franklin Resources Inc. now owns 25,898 shares of the company’s stock worth $960,000 after buying an additional 2,680 shares during the last quarter. US Bancorp DE increased its position in shares of Northern Oil and Gas by 37.2% during the fourth quarter. US Bancorp DE now owns 18,741 shares of the company’s stock worth $695,000 after purchasing an additional 5,080 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Northern Oil and Gas by 5.3% during the 4th quarter. Allianz Asset Management GmbH now owns 104,787 shares of the company’s stock valued at $3,884,000 after purchasing an additional 5,320 shares during the last quarter. TFO Wealth Partners LLC boosted its position in shares of Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after purchasing an additional 1,121 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in Northern Oil and Gas during the 4th quarter worth $217,000. 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.