Northland Securities Increases Northern Oil and Gas (NYSE:NOG) Price Target to $60.00

Northern Oil and Gas (NYSE:NOGGet Rating) had its target price upped by research analysts at Northland Securities from $50.00 to $60.00 in a research report issued to clients and investors on Monday, The Fly reports. Northland Securities’ price objective suggests a potential upside of 57.89% from the company’s previous close.

Several other brokerages also recently issued reports on NOG. Piper Sandler lifted their price target on shares of Northern Oil and Gas from $51.00 to $59.00 and gave the company an “overweight” rating in a report on Tuesday, October 18th. Bank of America lifted their price target on shares of Northern Oil and Gas from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, September 19th. Truist Financial upped their price target on shares of Northern Oil and Gas from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, October 13th. Raymond James upped their price objective on shares of Northern Oil and Gas from $55.00 to $60.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 24th. Finally, TheStreet raised shares of Northern Oil and Gas from a “d” rating to a “b-” rating in a report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.30.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock opened at $38.00 on Monday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.99 and a quick ratio of 0.99. Northern Oil and Gas has a fifty-two week low of $17.51 and a fifty-two week high of $39.10. The firm has a fifty day moving average price of $32.33 and a two-hundred day moving average price of $30.09. The company has a market cap of $2.96 billion, a PE ratio of 4.36, a price-to-earnings-growth ratio of 0.43 and a beta of 2.11.

Insider Buying and Selling

In other news, major shareholder Robert B. Rowling sold 261,000 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $37.45, for a total value of $9,774,450.00. Following the completion of the sale, the insider now directly owns 8,002,719 shares in the company, valued at approximately $299,701,826.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Northern Oil and Gas news, major shareholder Robert B. Rowling sold 9,132 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $38.38, for a total value of $350,486.16. Following the completion of the sale, the insider now owns 7,994 shares in the company, valued at approximately $306,809.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Robert B. Rowling sold 261,000 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $37.45, for a total value of $9,774,450.00. Following the sale, the insider now directly owns 8,002,719 shares of the company’s stock, valued at $299,701,826.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 358,372 shares of company stock worth $13,428,038. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Northern Oil and Gas

A number of institutional investors have recently modified their holdings of NOG. Kestra Advisory Services LLC acquired a new stake in Northern Oil and Gas during the 1st quarter worth about $200,000. Comerica Bank raised its stake in shares of Northern Oil and Gas by 12.1% during the first quarter. Comerica Bank now owns 11,862 shares of the company’s stock valued at $346,000 after acquiring an additional 1,283 shares during the last quarter. Emerald Advisers LLC bought a new position in Northern Oil and Gas in the first quarter worth about $489,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Northern Oil and Gas during the first quarter valued at approximately $140,000. Finally, Personal CFO Solutions LLC grew its holdings in shares of Northern Oil and Gas by 5.5% during the first quarter. Personal CFO Solutions LLC now owns 16,018 shares of the company’s stock valued at $452,000 after buying an additional 836 shares during the last quarter. 78.72% of the stock is currently owned by institutional investors.

About Northern Oil and Gas

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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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