Northern Oil and Gas (NYSE:NOG) Price Target Raised to $55.00 at Truist Financial

Northern Oil and Gas (NYSE:NOG) had its price objective raised by Truist Financial from $52.00 to $55.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently issued reports on NOG. Piper Sandler cut their price objective on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Mizuho downgraded 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 report on Monday, December 16th. Morgan Stanley cut their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 price target on shares of Northern Oil and Gas in a report on Friday. Finally, Jefferies Financial Group began 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 for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $40.77 on Monday. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 4.89 and a beta of 1.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The company has a 50-day simple moving average of $39.88 and a 200 day simple moving average of $38.70. 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 posted its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The firm had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business’s revenue for the quarter was up 140.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 EPS. On average, sell-side analysts predict that Northern Oil and Gas will post 5.4 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio is 20.17%.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 1,836 shares of company stock worth $72,869 in the last three months. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northern Oil and Gas

A number of institutional investors have recently added to or reduced their stakes in NOG. Choreo LLC acquired a new position in Northern Oil and Gas in the 2nd quarter valued at approximately $266,000. BOKF NA boosted its stake in shares of Northern Oil and Gas by 87.8% in the 2nd quarter. BOKF NA now owns 12,476 shares of the company’s stock valued at $464,000 after purchasing an additional 5,833 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Northern Oil and Gas by 10.1% in the 2nd quarter. Federated Hermes Inc. now owns 111,744 shares of the company’s stock valued at $4,154,000 after purchasing an additional 10,214 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Northern Oil and Gas by 45.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after purchasing an additional 789,985 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of Northern Oil and Gas by 27.8% in the 2nd quarter. Quantbot Technologies LP now owns 82,340 shares of the company’s stock valued at $3,061,000 after purchasing an additional 17,909 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

About Northern Oil and Gas

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.