Northern Oil and Gas (NYSE:NOG) Price Target Raised to $55.00 at Truist Financial

Northern Oil and Gas (NYSE:NOG) had its price target upped by Truist Financial from $54.00 to $55.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on the company. Piper Sandler raised their price objective on Northern Oil and Gas from $42.00 to $43.00 and gave the stock a neutral rating in a research note on Tuesday, May 14th. StockNews.com cut Northern Oil and Gas from a hold rating to a sell rating in a research note on Thursday. Morgan Stanley raised their price objective on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. Citigroup dropped their target price on Northern Oil and Gas from $55.00 to $50.00 and set a buy rating on the stock in a research report on Friday, May 3rd. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Northern Oil and Gas currently has a consensus rating of Moderate Buy and an average target price of $48.90.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $37.17 on Thursday. The stock has a market cap of $3.76 billion, a P/E ratio of 6.25 and a beta of 1.79. The company has a current ratio of 0.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. The stock has a 50 day moving average of $38.98 and a 200-day moving average of $38.30. Northern Oil and Gas has a 52 week low of $31.13 and a 52 week high of $43.80.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.20 by $0.26. The company had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.49 EPS. On average, analysts expect that Northern Oil and Gas will post 5.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total value of $56,877.12. Following the completion of the transaction, the president now owns 109,020 shares in the company, valued at approximately $4,454,557.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total value of $56,877.12. Following the completion of the transaction, the president now owns 109,020 shares in the company, valued at approximately $4,454,557.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the transaction, the chief executive officer now owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The disclosure for this sale can be found here. Insiders have sold a total of 6,534 shares of company stock valued at $252,144 over the last three months. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NOG. State of Alaska Department of Revenue increased its position in Northern Oil and Gas by 7.9% in the 4th quarter. State of Alaska Department of Revenue now owns 56,268 shares of the company’s stock worth $2,085,000 after buying an additional 4,104 shares during the period. Trust Point Inc. bought a new stake in shares of Northern Oil and Gas during the fourth quarter valued at approximately $598,000. Arizona State Retirement System increased its position in shares of Northern Oil and Gas by 11.2% during the fourth quarter. Arizona State Retirement System now owns 25,039 shares of the company’s stock valued at $928,000 after purchasing an additional 2,527 shares during the period. New York State Teachers Retirement System increased its position in shares of Northern Oil and Gas by 1.8% during the fourth quarter. New York State Teachers Retirement System now owns 36,429 shares of the company’s stock valued at $1,350,000 after purchasing an additional 643 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Northern Oil and Gas by 8.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,733 shares of the company’s stock valued at $1,473,000 after purchasing an additional 2,955 shares during the period. 98.80% of the stock is 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.