Northern Oil and Gas (NYSE:NOG) Price Target Lowered to $37.00 at Piper Sandler

Northern Oil and Gas (NYSE:NOG) had its price objective dropped by investment analysts at Piper Sandler from $41.00 to $37.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 0.52% from the stock’s previous close.

A number of other equities analysts have also weighed in on the company. Morgan Stanley lowered their target price on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective on the stock. Truist Financial lifted their target price on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research note on Monday. Finally, Royal Bank of Canada cut shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from $43.00 to $45.00 in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.20.

Northern Oil and Gas Trading Down 4.4 %

NOG stock opened at $36.81 on Tuesday. Northern Oil and Gas has a one year low of $31.13 and a one year high of $44.31. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 4.42 and a beta of 1.85. The company has a fifty day moving average price of $39.84 and a two-hundred day moving average price of $38.72. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.20 by $0.20. The business 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.73 EPS. Equities analysts anticipate that Northern Oil and Gas will post 5.4 EPS for the current year.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, CFO Chad W. Allen sold 1,500 shares of Northern Oil and Gas stock in a transaction dated Monday, October 7th. The stock was 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 in the company, valued at $3,351,680. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction dated Thursday, October 3rd. The stock was 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 directly owns 107,876 shares of the company’s stock, valued at $4,153,226. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,508 shares of company stock valued at $248,113 over the last three months. 2.80% of the stock is owned by insiders.

Institutional Trading of Northern Oil and Gas

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Northern Oil and Gas by 136.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 15,896 shares of the company’s stock valued at $591,000 after acquiring an additional 9,168 shares in the last quarter. 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 in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Northern Oil and Gas by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 46,000 shares of the company’s stock worth $1,710,000 after purchasing an additional 800 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Northern Oil and Gas by 1.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock valued at $849,000 after buying an additional 320 shares during the period. Finally, Tributary Capital Management LLC raised its holdings in Northern Oil and Gas by 0.3% in the 2nd quarter. Tributary Capital Management LLC now owns 549,349 shares of the company’s stock valued at $20,419,000 after buying an additional 1,754 shares during the last quarter. Institutional investors 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.