Truist Financial Boosts Northern Oil and Gas (NYSE:NOG) Price Target to $52.00

Northern Oil and Gas (NYSE:NOG) had its target price increased by Truist Financial from $51.00 to $52.00 in a report issued on Friday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

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

Northern Oil and Gas Trading Down 1.2 %

Shares of Northern Oil and Gas 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 $38.77. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 4.89 and a beta of 1.85. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $44.31. 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 (NYSE:NOG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The company 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%. Northern Oil and Gas’s revenue was up 140.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.73 EPS. On average, equities analysts forecast that Northern Oil and Gas will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.13%. Northern Oil and Gas’s payout ratio is presently 20.17%.

Insider Buying and Selling at Northern Oil and Gas

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 transaction of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 83,792 shares in the company, valued at approximately $3,351,680. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the company’s 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 completion of the transaction, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,508 shares of company stock valued at $248,113 in the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Northern Oil and Gas

A number of institutional investors have recently bought and sold shares of NOG. Geode Capital Management LLC lifted its holdings in shares of Northern Oil and Gas by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock valued at $80,884,000 after buying an additional 100,761 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Northern Oil and Gas by 21.0% during the third quarter. Public Employees Retirement System of Ohio now owns 100,140 shares of the company’s stock valued at $3,546,000 after acquiring an additional 17,383 shares in the last quarter. Hodges Capital Management Inc. lifted its stake in Northern Oil and Gas by 4.9% in the third quarter. Hodges Capital Management Inc. now owns 44,580 shares of the company’s stock valued at $1,579,000 after acquiring an additional 2,100 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas in the third quarter valued at approximately $25,000. Finally, Stifel Financial Corp grew its position in Northern Oil and Gas by 7.6% in the third quarter. Stifel Financial Corp now owns 87,254 shares of the company’s stock worth $3,090,000 after acquiring an additional 6,168 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

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.