Truist Boosts Northern Oil and Gas (NYSEAMERICAN:NOG) Price Target to $42.00

Northern Oil and Gas (NYSEAMERICAN:NOG) had its price target raised by Truist from $40.00 to $42.00 in a report published on Friday, The Fly reports.

Several other analysts also recently issued reports on NOG. Zacks Investment Research downgraded Northern Oil and Gas from a buy rating to a hold rating and set a $21.00 price objective on the stock. in a report on Tuesday, December 7th. Raymond James boosted their price objective on Northern Oil and Gas from $38.00 to $43.00 and gave the stock a strong-buy rating in a report on Friday, November 19th. Roth Capital boosted their price objective on Northern Oil and Gas from $22.00 to $32.00 and gave the stock a buy rating in a report on Tuesday, October 26th. They noted that the move was a valuation call. Finally, Bank of America upgraded Northern Oil and Gas from a neutral rating to a buy rating and set a $28.00 price objective on the stock in a report on Friday, December 17th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $26.10.

Shares of NYSEAMERICAN NOG opened at $23.85 on Friday. Northern Oil and Gas has a twelve month low of $9.46 and a twelve month high of $27.87. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -3.75, a price-to-earnings-growth ratio of 0.10 and a beta of 2.41.

Northern Oil and Gas (NYSEAMERICAN:NOG) last issued its quarterly earnings results on Friday, November 5th. The energy company reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.05). Northern Oil and Gas had a negative net margin of 136.31% and a negative return on equity of 112.35%. The business had revenue of $259.67 million during the quarter, compared to analyst estimates of $214.99 million. Equities research analysts anticipate that Northern Oil and Gas will post 4.06 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 31st. Investors of record on Thursday, December 30th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, December 29th. This represents a $0.32 dividend on an annualized basis and a yield of 1.34%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.05. Northern Oil and Gas’s dividend payout ratio is currently -5.03%.

In related news, major shareholder Cresta Greenwood, Llc sold 134,422 shares of the stock in a transaction that occurred on Thursday, November 18th. The stock was sold at an average price of $19.10, for a total value of $2,567,460.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. US Bancorp DE bought a new stake in Northern Oil and Gas during the second quarter worth approximately $26,000. FORA Capital LLC bought a new stake in shares of Northern Oil and Gas in the second quarter valued at approximately $29,000. GoalVest Advisory LLC bought a new stake in shares of Northern Oil and Gas in the second quarter valued at approximately $30,000. Federated Hermes Inc. bought a new stake in shares of Northern Oil and Gas in the second quarter valued at approximately $31,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of Northern Oil and Gas in the third quarter valued at approximately $44,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

About Northern Oil and Gas

Northern Oil & Gas, Inc engages in the acquisition, exploration, development, and production of crude oil and natural gas properties. It focuses on the Bakken and Three Forks formation within the Williston Basin in North Dakota and Montana. The company was founded on March 20, 2007 and is headquartered in Minnetonka, MN.

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