Northern Oil and Gas (NYSE:NOG) Price Target Raised to $51.00 at Truist Financial

Northern Oil and Gas (NYSE:NOG) had its price objective hoisted by Truist Financial from $44.00 to $51.00 in a research note published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

NOG has been the subject of several other reports. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Bank of America boosted their price target on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Piper Sandler dropped their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective for the company. Finally, Morgan Stanley decreased their target price on 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. One equities research analyst has rated the stock with a sell rating, two have assigned 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, the company presently has an average rating of “Moderate Buy” and an average price target of $47.50.

Northern Oil and Gas Trading Up 1.0 %

Shares of NOG stock traded up $0.40 on Thursday, hitting $40.94. The stock had a trading volume of 931,083 shares, compared to its average volume of 1,331,208. Northern Oil and Gas has a twelve month low of $31.13 and a twelve month high of $43.80. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The firm has a market cap of $4.10 billion, a P/E ratio of 4.86 and a beta of 1.80. The company has a fifty day moving average price of $37.13 and a two-hundred day moving average price of $38.61.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data 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. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. During the same period in the prior year, the firm earned $1.73 earnings per share. The company’s revenue was up 140.0% on a year-over-year basis. As a group, analysts forecast that Northern Oil and Gas will post 5.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Northern Oil and Gas

In other news, CFO Chad W. Allen sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at $3,351,680. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Chad W. Allen sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the transaction, the chief financial officer now owns 83,792 shares of the company’s stock, valued at approximately $3,351,680. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,508 shares of company stock worth $248,113. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

A number of institutional investors and hedge funds have recently modified their holdings of NOG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Northern Oil and Gas by 1.4% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock worth $849,000 after purchasing an additional 320 shares during the last quarter. Easterly Investment Partners LLC boosted its position in Northern Oil and Gas by 0.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock valued at $1,792,000 after buying an additional 380 shares during the period. Signaturefd LLC grew its stake in Northern Oil and Gas by 100.5% in the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after acquiring an additional 427 shares in the last quarter. CWM LLC increased its position in shares of Northern Oil and Gas by 24.8% during the third quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after acquiring an additional 444 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Northern Oil and Gas by 91.5% during the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after acquiring an additional 528 shares in the last quarter. 98.80% of the stock is 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.