Northern Oil and Gas (NYSE:NOG) Price Target Raised to $41.00 at Piper Sandler

Northern Oil and Gas (NYSE:NOG) had its target price hoisted by Piper Sandler from $40.00 to $41.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential downside of 0.75% from the company’s current price.

A number of other equities analysts have also commented on the company. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective on the stock. Morgan Stanley lowered their price objective 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. Truist Financial raised their price objective on Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Mizuho assumed coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $47.60.

Northern Oil and Gas Stock Performance

NYSE:NOG traded up $0.81 during mid-day trading on Monday, hitting $41.31. 506,616 shares of the stock were exchanged, compared to its average volume of 1,318,194. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of 4.96 and a beta of 1.80. The firm’s 50-day simple moving average is $37.51 and its 200 day simple moving average is $38.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $43.80.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. During the same period last year, the firm posted $1.73 EPS. The firm’s revenue for the quarter was up 140.0% compared to the same quarter last year. As a group, equities analysts anticipate that Northern Oil and Gas will post 5.38 EPS for the current fiscal 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 transaction of $60,000.00. Following the transaction, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at approximately $3,351,680. The trade was a 1.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the president now directly owns 107,876 shares in the company, valued at $4,153,226. The trade was a 2.27 % decrease in their ownership of the stock. 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 owned by corporate insiders.

Institutional Inflows and Outflows

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

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.