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

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

NOG has been the topic of a number of other research reports. Bank of America cut shares of Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 price objective on the stock. in a report on Friday, January 5th. Morgan Stanley lifted their price objective on Northern Oil and Gas from $38.00 to $41.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Royal Bank of Canada reissued an outperform rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. Raymond James lowered their price target on Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating for the company in a research report on Wednesday, January 24th. Finally, Jefferies Financial Group increased their price objective 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $47.90.

Northern Oil and Gas Trading Up 0.7 %

NOG opened at $40.26 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Northern Oil and Gas has a 52 week low of $29.57 and a 52 week high of $43.75. The stock has a market cap of $4.07 billion, a PE ratio of 6.53 and a beta of 1.84. The business has a 50 day moving average of $39.61 and a 200-day moving average of $37.36.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.18 by $0.10. The business had revenue of $396.35 million during the quarter, compared to analyst estimates of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The company’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 earnings per share. Equities research analysts predict that Northern Oil and Gas will post 5.53 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.60 annualized dividend and a dividend yield of 3.97%. Northern Oil and Gas’s payout ratio is 25.93%.

Insider Buying and Selling

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction on Friday, March 15th. The shares were 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 directly owns 122,359 shares in the company, valued at approximately $4,649,642. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction on Friday, March 15th. The stock was 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 of the company’s stock, valued at $4,649,642. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James B. Evans sold 945 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the transaction, the insider now directly owns 83,872 shares in the company, valued at approximately $3,187,136. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,944 shares of company stock worth $436,614. 2.80% of the stock is owned by insiders.

Institutional Trading of Northern Oil and Gas

Several large investors have recently added to or reduced their stakes in NOG. Jump Financial LLC purchased a new position in shares of Northern Oil and Gas during the 3rd quarter worth $4,462,000. Ninepoint Partners LP lifted its position in Northern Oil and Gas by 12.5% during the fourth quarter. Ninepoint Partners LP now owns 450,000 shares of the company’s stock valued at $16,682,000 after purchasing an additional 50,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Northern Oil and Gas by 34.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,963 shares of the company’s stock valued at $555,000 after purchasing an additional 3,848 shares during the period. Wellington Management Group LLP increased its position in Northern Oil and Gas by 11.6% in the third quarter. Wellington Management Group LLP now owns 417,265 shares of the company’s stock worth $16,787,000 after buying an additional 43,527 shares in the last quarter. Finally, Sei Investments Co. increased its position in Northern Oil and Gas by 38.6% in the third quarter. Sei Investments Co. now owns 419,762 shares of the company’s stock worth $16,888,000 after buying an additional 116,983 shares in the last quarter. 98.80% of the stock is currently owned by 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.