Northern Oil and Gas (NYSE:NOG) Price Target Raised to $42.00 at Piper Sandler

Northern Oil and Gas (NYSE:NOG) had its price objective upped by Piper Sandler from $38.00 to $42.00 in a report published on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada restated an outperform rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Bank of America cut shares of Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 price target for the company. in a report on Friday, January 5th. Morgan Stanley boosted their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Citigroup lowered their price target on shares of Northern Oil and Gas from $50.00 to $45.00 and set a buy rating for the company in a report on Wednesday, February 28th. Finally, Raymond James lowered their price target on shares of Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $47.00.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $42.50 on Friday. The company’s 50 day simple moving average is $38.00 and its 200-day simple moving average is $37.18. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 4.23 and a beta of 1.86. Northern Oil and Gas has a 1 year low of $29.57 and a 1 year high of $43.64. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). The company had revenue of $543.40 million during the quarter, compared to analysts’ expectations of $555.31 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. Northern Oil and Gas’s revenue was up 21.9% on a year-over-year basis. During the same period last year, the firm posted $1.43 earnings per share. As a group, equities research analysts expect that Northern Oil and Gas will post 5.43 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 annualized dividend and a yield of 3.77%. Northern Oil and Gas’s dividend payout ratio (DPR) is 15.94%.

Insider Activity at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total value of $153,675.00. Following the completion of the sale, the chief executive officer now owns 228,082 shares in the company, valued at approximately $9,346,800.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider James B. Evans sold 945 shares of the company’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 $35,910.00. Following the transaction, the insider now directly owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total transaction of $153,675.00. Following the transaction, the chief executive officer now directly owns 228,082 shares in the company, valued at $9,346,800.36. The disclosure for this sale can be found here. Insiders sold a total of 10,944 shares of company stock worth $436,614 in the last 90 days. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Institutional investors and hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors grew its stake in shares of Northern Oil and Gas by 1,349.4% during the 2nd quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock worth $29,000 after purchasing an additional 1,066 shares during the period. Quarry LP acquired a new position in shares of Northern Oil and Gas during the 2nd quarter worth $31,000. Principal Securities Inc. acquired a new position in shares of Northern Oil and Gas during the 4th quarter worth $42,000. TFO Wealth Partners LLC grew its stake in shares of Northern Oil and Gas by 112,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after purchasing an additional 1,121 shares during the period. Finally, SRS Capital Advisors Inc. grew its stake in Northern Oil and Gas by 305.9% in 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 last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

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.