Northern Oil and Gas (NYSE:NOG) Given New $41.00 Price Target at Morgan Stanley

Northern Oil and Gas (NYSE:NOG) had its target price lifted by Morgan Stanley from $38.00 to $41.00 in a research note released on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

NOG has been the topic of a number of other research reports. Piper Sandler dropped their target price on shares of Northern Oil and Gas from $39.00 to $38.00 and set a neutral rating on the stock in a research report on Friday, February 16th. Jefferies Financial Group boosted their target price on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a buy rating in a research report on Thursday, March 21st. Citigroup dropped their target price on shares of Northern Oil and Gas from $50.00 to $45.00 and set a buy rating on the stock in a research report on Wednesday, February 28th. Bank of America downgraded shares of Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 target price on the stock. in a research report on Friday, January 5th. Finally, Truist Financial dropped their target price on shares of Northern Oil and Gas from $56.00 to $55.00 and set a buy rating on the stock in a research report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $46.60.

Northern Oil and Gas Stock Down 0.9 %

Shares of NYSE NOG opened at $42.06 on Monday. The company has a market capitalization of $4.25 billion, a P/E ratio of 4.19 and a beta of 1.86. Northern Oil and Gas has a 52-week low of $29.57 and a 52-week high of $43.64. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32. The company’s 50 day moving average price is $37.80 and its 200-day moving average price is $37.16.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). The firm had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 EPS. Equities analysts forecast that Northern Oil and Gas will post 5.42 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 annualized dividend and a yield of 3.80%. Northern Oil and Gas’s payout ratio is 15.94%.

Insiders Place Their Bets

In other news, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the sale, the president now owns 122,359 shares in the company, valued at approximately $4,649,642. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total value of $153,675.00. Following the completion of the sale, the chief executive officer now owns 228,082 shares in the company, valued at approximately $9,346,800.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the sale, the president now owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,944 shares of company stock worth $436,614. Insiders own 3.20% of the company’s stock.

Institutional Trading of Northern Oil and Gas

Several institutional investors have recently made changes to their positions in NOG. Bank of New York Mellon Corp grew its stake in shares of Northern Oil and Gas by 7.2% in the 1st quarter. Bank of New York Mellon Corp now owns 434,031 shares of the company’s stock worth $12,236,000 after acquiring an additional 29,141 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Northern Oil and Gas during the first quarter valued at about $200,000. Cetera Advisor Networks LLC grew its position in Northern Oil and Gas by 40.4% during the first quarter. Cetera Advisor Networks LLC now owns 17,783 shares of the company’s stock valued at $501,000 after buying an additional 5,121 shares during the period. Private Advisor Group LLC bought a new position in Northern Oil and Gas during the first quarter valued at about $207,000. Finally, Citigroup Inc. grew its position in Northern Oil and Gas by 32.9% during the first quarter. Citigroup Inc. now owns 88,939 shares of the company’s stock valued at $2,507,000 after buying an additional 22,033 shares during the period. 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.