Truist Financial Raises Northern Oil and Gas (NYSE:NOG) Price Target to $51.00

Northern Oil and Gas (NYSE:NOG) had its price target upped by Truist Financial from $44.00 to $51.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the company. Mizuho started coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price target for the company. Morgan Stanley dropped their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Bank of America boosted their price objective on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Piper Sandler lowered their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Finally, StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Northern Oil and Gas Stock Up 1.0 %

NYSE NOG traded up $0.39 during trading on Thursday, hitting $40.93. The company’s stock had a trading volume of 1,255,271 shares, compared to its average volume of 1,139,456. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 0.89. The company has a market cap of $4.10 billion, a PE ratio of 4.91 and a beta of 1.80. The business’s 50 day simple moving average is $37.15 and its 200-day simple moving average is $38.56. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $43.80.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 earnings per share. On average, equities analysts anticipate that Northern Oil and Gas will post 5.36 EPS for the current fiscal year.

Insider Activity

In related news, insider Erik J. Romslo sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the transaction, the insider now directly owns 105,713 shares of the company’s stock, valued at $3,727,440.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the sale, the president now owns 107,876 shares of the company’s stock, valued at $4,153,226. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the sale, the insider now directly owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,508 shares of company stock valued at $248,113 in the last three months. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Northern Oil and Gas

A number of institutional investors have recently added to or reduced their stakes in NOG. Vanguard Group Inc. increased its stake in Northern Oil and Gas by 0.4% during the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after acquiring an additional 43,940 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in shares of Northern Oil and Gas in the first quarter worth about $1,046,000. Motley Fool Asset Management LLC boosted its position in shares of Northern Oil and Gas by 29.0% in the first quarter. Motley Fool Asset Management LLC now owns 72,533 shares of the company’s stock worth $2,878,000 after buying an additional 16,302 shares during the period. Silvercrest Asset Management Group LLC boosted its position in shares of Northern Oil and Gas by 1.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock worth $29,747,000 after buying an additional 12,814 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Northern Oil and Gas by 290.5% in the second quarter. Harbor Capital Advisors Inc. now owns 84,213 shares of the company’s stock worth $3,130,000 after buying an additional 62,649 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

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.