Stifel Nicolaus Raises Northern Oil and Gas (NYSE:NOG) Price Target to $55.00

Northern Oil and Gas (NYSE:NOG) had its price objective upped by Stifel Nicolaus from $54.00 to $55.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Truist Financial cut their price target on Northern Oil and Gas from $56.00 to $55.00 and set a buy rating for the company in a research note on Friday, April 5th. Bank of America cut Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 price objective on the stock. in a research report on Friday, January 5th. Citigroup lowered their price objective on Northern Oil and Gas from $50.00 to $45.00 and set a buy rating on the stock in a research report on Wednesday, February 28th. StockNews.com raised Northern Oil and Gas from a sell rating to a hold rating in a research report on Monday. Finally, Piper Sandler lifted their price objective on Northern Oil and Gas from $38.00 to $42.00 and gave the company a neutral rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $47.30.

Northern Oil and Gas Trading Up 0.2 %

Northern Oil and Gas stock opened at $43.07 on Tuesday. The business has a 50-day simple moving average of $38.77 and a two-hundred day simple moving average of $37.31. The company has a market cap of $4.35 billion, a P/E ratio of 4.29 and a beta of 1.86. Northern Oil and Gas has a 52-week low of $29.57 and a 52-week high of $43.64. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.90.

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 firm had revenue of $543.40 million for the quarter, compared to the consensus estimate of $555.31 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Analysts predict that Northern Oil and Gas will post 5.53 EPS 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 issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a yield of 3.71%. Northern Oil and Gas’s dividend payout ratio is presently 15.94%.

Insider Buying and Selling

In related news, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the transaction, the insider now directly owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. 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 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the sale, the insider now directly owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the sale, 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. In the last three months, insiders have sold 10,944 shares of company stock valued at $436,614. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

Hedge funds have recently modified their holdings of the company. Principal Securities Inc. purchased a new stake in shares of Northern Oil and Gas during the 4th quarter worth approximately $42,000. TFO Wealth Partners LLC increased its position 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 valued at $42,000 after purchasing an additional 1,121 shares during the last quarter. SRS Capital Advisors Inc. increased its position in shares of Northern Oil and Gas by 305.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock valued at $46,000 after purchasing an additional 927 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Northern Oil and Gas during the 3rd quarter valued at approximately $67,000. Finally, Quadrant Capital Group LLC increased its position in shares of Northern Oil and Gas by 74.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after purchasing an additional 930 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.