Northern Oil and Gas (NYSE:NOG) Price Target Cut to $44.00 by Analysts at Truist Financial

Northern Oil and Gas (NYSE:NOG) had its price objective decreased by equities research analysts at Truist Financial from $55.00 to $44.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 24.40% from the company’s previous close.

A number of other brokerages also recently weighed in on NOG. StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. Bank of America upped their target price 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. Mizuho started coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They set an “outperform” rating and a $47.00 price target for the company. Finally, Piper Sandler decreased their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.60.

Northern Oil and Gas Stock Up 0.6 %

NYSE NOG traded up $0.20 on Monday, reaching $35.37. The company had a trading volume of 160,026 shares, compared to its average volume of 1,343,870. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $3.57 billion, a P/E ratio of 5.73 and a beta of 1.81. The company’s fifty day moving average is $37.85 and its 200 day moving average is $39.12. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $43.80.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.26. The company had revenue of $560.80 million during the quarter, compared to analyst estimates of $542.28 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.49 earnings per share. Sell-side analysts anticipate that Northern Oil and Gas will post 5.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now owns 224,332 shares in the company, valued at approximately $8,526,859.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in 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 purchasing an additional 528 shares during the period. TFO Wealth Partners LLC boosted its stake in shares of Northern Oil and Gas by 112,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after purchasing an additional 1,121 shares during the period. Quarry LP increased its stake in Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after purchasing an additional 874 shares during the period. Fifth Third Bancorp boosted its stake in shares of Northern Oil and Gas by 88.2% during the second quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock valued at $82,000 after purchasing an additional 1,033 shares during the period. Finally, Marks Group Wealth Management Inc purchased a new stake in shares of Northern Oil and Gas in the 1st quarter worth $215,000. Institutional investors own 98.80% of the company’s stock.

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.