Northern Oil and Gas (NYSE:NOG) Price Target Raised to $55.00 at Truist Financial

Northern Oil and Gas (NYSE:NOG) had its price target increased by Truist Financial from $54.00 to $55.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Morgan Stanley boosted their target price on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the company an equal weight rating in a report on Monday, April 15th. Citigroup decreased their target price on shares of Northern Oil and Gas from $55.00 to $50.00 and set a buy rating on the stock in a report on Friday, May 3rd. Royal Bank of Canada reiterated an outperform rating and issued a $46.00 target price on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. Stifel Nicolaus boosted their target price on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a buy rating in a report on Tuesday, April 23rd. Finally, Bank of America boosted their target price on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a buy rating in a report on Wednesday, July 10th. One investment 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. According to data from MarketBeat.com, Northern Oil and Gas currently has an average rating of Moderate Buy and a consensus target price of $48.90.

Northern Oil and Gas Stock Down 3.7 %

Shares of NYSE NOG opened at $37.17 on Thursday. Northern Oil and Gas has a 12-month low of $31.13 and a 12-month high of $43.80. The stock has a market cap of $3.76 billion, a PE ratio of 6.25 and a beta of 1.79. The company has a current ratio of 0.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average of $38.98 and a 200 day moving average of $38.30.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $542.28 million. During the same quarter in the prior year, the company earned $1.49 EPS. Northern Oil and Gas’s revenue was up 17.7% compared to the same quarter last year. As a group, sell-side analysts predict that Northern Oil and Gas will post 5.12 EPS for the current fiscal year.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the sale, the chief executive officer now directly owns 224,332 shares in the company, valued at approximately $8,526,859.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $40.86, for a total transaction of $56,877.12. Following the sale, the president now directly owns 109,020 shares in the company, valued at approximately $4,454,557.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the sale, the chief executive officer now owns 224,332 shares in the company, valued at $8,526,859.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,534 shares of company stock worth $252,144. 2.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Northern Oil and Gas

A number of large investors have recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of Northern Oil and Gas by 1.3% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock valued at $823,000 after purchasing an additional 290 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its position in shares of Northern Oil and Gas by 0.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 63,900 shares of the company’s stock valued at $2,369,000 after buying an additional 500 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Northern Oil and Gas by 91.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after buying an additional 528 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of Northern Oil and Gas by 1.8% in the 4th quarter. New York State Teachers Retirement System now owns 36,429 shares of the company’s stock valued at $1,350,000 after buying an additional 643 shares during the last quarter. Finally, Strs Ohio grew its position in shares of Northern Oil and Gas by 13.0% in the 4th quarter. Strs Ohio now owns 6,100 shares of the company’s stock valued at $226,000 after buying an additional 700 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.