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

Northern Oil and Gas (NYSE:NOG) had its target price raised by equities research analysts at Piper Sandler from $38.00 to $42.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential downside of 1.34% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Morgan Stanley increased their target price on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday. Raymond James dropped their price objective 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. Stifel Nicolaus decreased their price target 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, Truist Financial decreased their price target on shares of Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Northern Oil and Gas Stock Performance

NOG traded up $0.52 during midday trading on Friday, hitting $42.57. 710,626 shares of the company were exchanged, compared to its average volume of 1,261,349. The company’s 50 day simple moving average is $37.80 and its 200 day simple moving average is $37.16. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 4.26 and a beta of 1.86. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90. Northern Oil and Gas has a 1-year low of $29.57 and a 1-year high of $43.64.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share 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%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 earnings per share. As a group, sell-side analysts predict that Northern Oil and Gas will post 5.43 earnings per share for the current year.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,088 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 transaction of $79,344.00. Following the sale, the president now owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider James B. Evans sold 945 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the sale, the insider now directly owns 83,872 shares in the company, valued at $3,187,136. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the transaction, the president now owns 122,359 shares in the company, valued at $4,649,642. The disclosure for this sale can be found here. Insiders sold a total of 10,944 shares of company stock valued at $436,614 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

A number of institutional investors have recently modified their holdings of NOG. Quarry LP bought a new position in shares of Northern Oil and Gas in the second quarter worth about $31,000. TFO Wealth Partners LLC grew 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 worth $42,000 after buying an additional 1,121 shares during the period. Principal Securities Inc. acquired a new stake in Northern Oil and Gas in the 4th quarter valued at $42,000. Captrust Financial Advisors grew its position in Northern Oil and Gas by 1,349.4% in the 2nd quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock valued at $29,000 after purchasing an additional 1,066 shares during the period. Finally, SRS Capital Advisors Inc. grew its position 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 purchasing an additional 927 shares during the period. 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.