Northern Oil and Gas (NYSE:NOG) Price Target Lowered to $35.00 at Piper Sandler

Northern Oil and Gas (NYSE:NOG) had its price target lowered by Piper Sandler from $37.00 to $35.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

NOG has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 price objective on shares of Northern Oil and Gas in a research note on Friday, January 10th. Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Monday, December 16th. Truist Financial boosted their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.56.

Northern Oil and Gas Trading Up 0.9 %

Northern Oil and Gas stock opened at $37.78 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. The company has a market cap of $3.77 billion, a P/E ratio of 4.54 and a beta of 1.85. The business has a 50-day simple moving average of $39.80 and a two-hundred day simple moving average of $38.83. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.20. The company had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas’s quarterly revenue was up 140.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 earnings per share. Analysts predict that Northern Oil and Gas will post 5.34 EPS for the current year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 4.76%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 20.17%.

Insider Activity

In related news, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now directly owns 96,223 shares in the company, valued at $3,752,697. This represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders sold 1,836 shares of company stock worth $72,869. 2.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Northern Oil and Gas

Institutional investors have recently modified their holdings of the company. Xponance Inc. increased its position in shares of Northern Oil and Gas by 18.4% during the second quarter. Xponance Inc. now owns 6,294 shares of the company’s stock worth $234,000 after purchasing an additional 977 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Northern Oil and Gas by 10.2% during the second quarter. The Manufacturers Life Insurance Company now owns 56,288 shares of the company’s stock valued at $2,092,000 after purchasing an additional 5,192 shares during the period. Algert Global LLC purchased a new stake in Northern Oil and Gas in the second quarter valued at $340,000. Creative Planning grew its position in Northern Oil and Gas by 80.6% during the 2nd quarter. Creative Planning now owns 23,712 shares of the company’s stock worth $881,000 after purchasing an additional 10,580 shares during the period. Finally, Quarry LP raised its stake in shares of Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after buying an additional 874 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

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.