Northern Oil and Gas (NYSE:NOG) Given New $41.00 Price Target at Morgan Stanley

Northern Oil and Gas (NYSE:NOG) had its target price boosted by Morgan Stanley from $38.00 to $41.00 in a report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages also recently weighed in on NOG. Raymond James dropped their target price on shares of Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating for the company in a research note on Wednesday, January 24th. Truist Financial dropped their target price on shares of 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. 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 report on Thursday, March 21st. Stifel Nicolaus cut their price objective on shares of Northern Oil and Gas from $54.00 to $52.00 and set a buy rating on the stock in a report on Tuesday, January 23rd. Finally, Piper Sandler cut their price objective on shares of Northern Oil and Gas from $39.00 to $38.00 and set a neutral rating on the stock in a report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $46.60.

Northern Oil and Gas Price Performance

NYSE:NOG opened at $42.06 on Monday. The firm has a market cap of $4.25 billion, a PE ratio of 4.19 and a beta of 1.86. Northern Oil and Gas has a 12 month low of $29.57 and a 12 month 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. The company’s 50-day moving average price is $37.80 and its two-hundred day moving average price is $37.16.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The firm had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. During the same quarter last year, the firm earned $1.43 earnings per share. Northern Oil and Gas’s quarterly revenue was up 21.9% on a year-over-year basis. On average, equities analysts anticipate that Northern Oil and Gas will post 5.42 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.60 annualized dividend and a yield of 3.80%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 15.94%.

Insiders Place Their Bets

In other Northern Oil and Gas news, insider James B. Evans sold 3,150 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the sale, the insider now directly owns 73,753 shares in the company, valued at $3,097,626. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider James B. Evans sold 3,150 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the sale, the insider now owns 73,753 shares of the company’s stock, valued at $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 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 sale, the chief executive officer now directly owns 228,082 shares of the company’s stock, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,944 shares of company stock worth $436,614. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Large investors have recently made changes to their positions in the stock. Captrust Financial Advisors increased its position in shares of Northern Oil and Gas by 1,349.4% during the second quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock worth $29,000 after acquiring an additional 1,066 shares in the last quarter. Quarry LP bought a new position in Northern Oil and Gas in the second quarter valued at $31,000. Principal Securities Inc. bought a new position in Northern Oil and Gas in the fourth quarter valued at $42,000. TFO Wealth Partners LLC grew its position in Northern Oil and Gas by 112,100.0% in the fourth 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 in the last quarter. Finally, SRS Capital Advisors Inc. grew its position in Northern Oil and Gas by 305.9% in the fourth 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 in the last quarter. Institutional investors own 98.80% of the company’s stock.

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.