Northern Oil and Gas (NYSEAMERICAN:NOG) Price Target Increased to $48.00 by Analysts at Raymond James

Northern Oil and Gas (NYSEAMERICAN:NOGGet Rating) had its price objective lifted by stock analysts at Raymond James from $45.00 to $48.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “strong-buy” rating on the energy company’s stock. Raymond James’ target price would suggest a potential upside of 88.61% from the stock’s current price.

Several other analysts have also commented on NOG. Johnson Rice raised shares of Northern Oil and Gas from an “accumulate” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, March 15th. Royal Bank of Canada raised their price objective on Northern Oil and Gas from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 1st. Truist Financial boosted their target price on Northern Oil and Gas from $45.00 to $50.00 in a research report on Thursday. Wells Fargo & Company lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating and set a $34.00 price target for the company. in a research report on Monday, March 14th. They noted that the move was a valuation call. Finally, Bank of America downgraded Northern Oil and Gas from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $33.00 to $38.00 in a report on Tuesday, March 8th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $37.00.

Shares of NYSEAMERICAN NOG opened at $25.45 on Monday. Northern Oil and Gas has a 1 year low of $12.07 and a 1 year high of $30.44. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -24.95, a PEG ratio of 0.51 and a beta of 2.25. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.66 and a quick ratio of 0.66.

Northern Oil and Gas (NYSEAMERICAN:NOGGet Rating) last announced its earnings results on Thursday, February 24th. The energy company reported $1.06 earnings per share for the quarter. Northern Oil and Gas had a negative return on equity of 351.74% and a net margin of 1.28%. The business had revenue of $332.37 million during the quarter. During the same period in the prior year, the business earned $0.64 EPS. Equities research analysts forecast that Northern Oil and Gas will post 5.76 earnings per share for the current year.

In related news, insider Michael D. Kelly sold 13,000 shares of the stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $28.34, for a total transaction of $368,420.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lisa Meier sold 12,500 shares of Northern Oil and Gas stock in a transaction that occurred on Thursday, March 17th. The stock was sold at an average price of $25.88, for a total value of $323,500.00. The disclosure for this sale can be found here. 4.40% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Capital World Investors increased its position in shares of Northern Oil and Gas by 24.2% during the fourth quarter. Capital World Investors now owns 6,054,000 shares of the energy company’s stock valued at $124,591,000 after purchasing an additional 1,179,000 shares during the period. FMR LLC increased its holdings in Northern Oil and Gas by 92.5% in the 1st quarter. FMR LLC now owns 4,353,200 shares of the energy company’s stock valued at $11,928,000 after buying an additional 2,092,100 shares during the period. BlackRock Inc. raised its stake in shares of Northern Oil and Gas by 10.9% in the 4th quarter. BlackRock Inc. now owns 4,112,572 shares of the energy company’s stock valued at $84,638,000 after buying an additional 404,438 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in shares of Northern Oil and Gas by 7.5% during the 1st quarter. Copeland Capital Management LLC now owns 2,608,261 shares of the energy company’s stock worth $73,527,000 after acquiring an additional 182,261 shares during the period. Finally, State Street Corp increased its stake in Northern Oil and Gas by 19.1% in the fourth quarter. State Street Corp now owns 2,558,642 shares of the energy company’s stock valued at $52,868,000 after acquiring an additional 410,376 shares during the period. Hedge funds and other institutional investors own 88.47% of the company’s stock.

About Northern Oil and Gas (Get Rating)

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. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.

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