Northern Oil and Gas (NYSE:NOG) Price Target Increased to $42.00 by Analysts at Piper Sandler

Northern Oil and Gas (NYSE:NOG) had its price objective hoisted by Piper Sandler from $38.00 to $42.00 in a research note released on Friday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

NOG has been the subject of several other research reports. Truist Financial dropped their price target on Northern Oil and Gas from $56.00 to $55.00 and set a buy rating for the company in a research report on Friday, April 5th. Bank of America downgraded Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 price target for the company. in a research report on Friday, January 5th. Royal Bank of Canada reissued an outperform rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Raymond James lowered their price objective on Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating for the company in a research report on Wednesday, January 24th. Finally, Jefferies Financial Group lifted their price objective on Northern Oil and Gas from $45.00 to $51.00 and gave the company a buy rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas currently has an average rating of Moderate Buy and an average price target of $47.00.

Northern Oil and Gas Stock Up 0.4 %

NOG opened at $42.67 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50 day simple moving average of $38.19 and a 200-day simple moving average of $37.20. The stock has a market capitalization of $4.31 billion, a P/E ratio of 4.25 and a beta of 1.86. Northern Oil and Gas has a 12 month low of $29.57 and a 12 month high of $43.64.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Friday, February 23rd. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The firm had revenue of $543.40 million during the quarter, compared to analysts’ expectations of $555.31 million. During the same period in the previous year, the business earned $1.43 earnings per share. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, equities analysts anticipate that Northern Oil and Gas will post 5.43 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.75%. The ex-dividend date is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio is currently 15.94%.

Insider Activity at Northern Oil and Gas

In related news, insider James B. Evans sold 945 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was 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 $3,187,136. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total transaction of $153,675.00. Following the completion of the transaction, the chief executive officer now directly owns 228,082 shares of the company’s stock, valued at $9,346,800.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James B. Evans sold 945 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the transaction, the insider now directly owns 83,872 shares of the company’s stock, valued at $3,187,136. The disclosure for this sale can be found here. Insiders sold a total of 10,944 shares of company stock valued at $436,614 over the last three months. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC increased its stake in shares of Northern Oil and Gas by 4.8% in the third quarter. Private Advisor Group LLC now owns 6,118 shares of the company’s stock worth $246,000 after acquiring an additional 282 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Northern Oil and Gas by 1.3% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock worth $823,000 after acquiring an additional 290 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Northern Oil and Gas by 1.0% in the third quarter. PNC Financial Services Group Inc. now owns 29,761 shares of the company’s stock worth $1,197,000 after acquiring an additional 306 shares during the last quarter. Kestra Advisory Services LLC increased its stake in shares of Northern Oil and Gas by 1.1% in the third 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 during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Northern Oil and Gas by 3.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 11,197 shares of the company’s stock worth $450,000 after acquiring an additional 332 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Company Profile

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.