Northern Oil and Gas (NYSE:NOG) Price Target Raised to $56.00 at Truist Financial

Northern Oil and Gas (NYSE:NOG) had its price objective upped by Truist Financial from $55.00 to $56.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on NOG. Royal Bank of Canada reissued an outperform rating and issued a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, March 6th. StockNews.com raised Northern Oil and Gas from a sell rating to a hold rating in a research note on Monday, April 22nd. Morgan Stanley upped their price target on Northern Oil and Gas from $38.00 to $41.00 and gave the company an equal weight rating in a research report on Monday, April 15th. Jefferies Financial Group lifted their price objective on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a buy rating in a research report on Thursday, March 21st. Finally, Bank of America downgraded Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 target price for the company. in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $47.40.

Northern Oil and Gas Stock Down 2.7 %

NOG opened at $39.67 on Wednesday. Northern Oil and Gas has a 12 month low of $29.57 and a 12 month high of $43.75. The company has a current ratio of 0.96, a quick ratio of 1.32 and a debt-to-equity ratio of 0.97. The business’s 50-day moving average price is $39.38 and its 200-day moving average price is $37.35. The company has a market cap of $4.01 billion, a P/E ratio of 6.43 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. The business had revenue of $396.35 million for the quarter, compared to analysts’ expectations of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The business’s quarterly revenue was down 31.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.76 EPS. On average, equities analysts expect that Northern Oil and Gas will post 5.53 EPS for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio is presently 25.93%.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the transaction, the insider now owns 83,872 shares of the company’s stock, valued at $3,187,136. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider James B. Evans sold 945 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the sale, the insider now directly owns 83,872 shares of the company’s stock, valued at $3,187,136. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James B. Evans sold 3,150 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the transaction, the insider now owns 73,753 shares of the company’s stock, valued at $3,097,626. The disclosure for this sale can be found here. Insiders sold a total of 10,944 shares of company stock valued at $436,614 in the last three months. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. TFO Wealth Partners LLC lifted its holdings in shares of Northern Oil and Gas by 112,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after purchasing an additional 1,121 shares in the last quarter. Principal Securities Inc. purchased a new position in Northern Oil and Gas in the 4th quarter worth about $42,000. SRS Capital Advisors Inc. lifted its stake in Northern Oil and Gas by 305.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock valued at $46,000 after acquiring an additional 927 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Northern Oil and Gas during the 3rd quarter valued at about $67,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Northern Oil and Gas by 74.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after acquiring an additional 930 shares during the period. 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.