Northern Oil and Gas (NYSE:NOG) Given New $52.00 Price Target at Truist Financial

Northern Oil and Gas (NYSE:NOG) had its target price upped by analysts at Truist Financial from $51.00 to $52.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 27.73% from the stock’s current price.

Other analysts have also issued research reports about the stock. Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price on the stock. Royal Bank of Canada downgraded Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. Mizuho started coverage on Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price for the company. Piper Sandler increased their target price on Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Finally, Morgan Stanley reduced their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.60.

Northern Oil and Gas Price Performance

Shares of NOG stock opened at $40.71 on Friday. The business has a fifty day simple moving average of $39.92 and a 200 day simple moving average of $38.78. The company has a market cap of $4.06 billion, a P/E ratio of 4.89 and a beta of 1.85. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas has a twelve month low of $31.13 and a twelve month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The firm had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter in the prior year, the business earned $1.73 earnings per share. The business’s revenue for the quarter was up 140.0% compared to the same quarter last year. On average, sell-side analysts forecast that Northern Oil and Gas will post 5.4 EPS for the current fiscal year.

Insider Activity at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the transaction, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the transaction, the insider now directly owns 105,713 shares in the company, valued at $3,727,440.38. This represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,508 shares of company stock worth $248,113 over the last ninety days. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

A number of hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in shares of Northern Oil and Gas by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after buying an additional 552,645 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Northern Oil and Gas by 45.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after acquiring an additional 789,985 shares in the last quarter. Geode Capital Management LLC boosted its stake in Northern Oil and Gas by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock worth $80,884,000 after acquiring an additional 100,761 shares in the last quarter. Copeland Capital Management LLC grew its holdings in Northern Oil and Gas by 0.6% in the third quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock worth $74,245,000 after purchasing an additional 12,079 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Northern Oil and Gas by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 1,220,044 shares of the company’s stock valued at $45,349,000 after purchasing an additional 49,632 shares in 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.