Piper Sandler Cuts Northern Oil and Gas (NYSE:NOG) Price Target to $37.00

Northern Oil and Gas (NYSE:NOG) had its price objective lowered by stock analysts at Piper Sandler from $41.00 to $37.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential downside of 3.47% from the stock’s previous close.

Several other research analysts have also recently weighed in on NOG. Morgan Stanley reduced 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. Royal Bank of Canada cut shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target on the stock. Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Monday. Finally, Truist Financial lifted their price target on Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.20.

Northern Oil and Gas Stock Down 2.4 %

NYSE NOG traded down $0.94 on Tuesday, hitting $38.33. The stock had a trading volume of 402,891 shares, compared to its average volume of 1,299,443. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $44.31. The business’s fifty day moving average price is $39.90 and its 200 day moving average price is $38.75. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 4.60 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The firm had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. During the same period in the previous year, the business earned $1.73 EPS. The firm’s revenue for the quarter was up 140.0% on a year-over-year basis. Equities research analysts anticipate that Northern Oil and Gas will post 5.4 earnings per share for the current year.

Insiders Place Their Bets

In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the transaction, the insider now owns 105,713 shares of the company’s stock, valued at $3,727,440.38. This represents a 1.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, the president now owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,508 shares of company stock valued at $248,113 over the last ninety days. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

Hedge funds have recently bought and sold shares of the company. Icon Wealth Advisors LLC purchased a new position in Northern Oil and Gas in the 3rd quarter valued at approximately $828,000. American Century Companies Inc. raised its holdings in Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after acquiring an additional 552,645 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in Northern Oil and Gas by 18.5% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 453,414 shares of the company’s stock worth $16,853,000 after acquiring an additional 70,709 shares during the last quarter. Qsemble Capital Management LP purchased a new stake in shares of Northern Oil and Gas in the 2nd quarter valued at approximately $625,000. Finally, Mutual of America Capital Management LLC raised its holdings in shares of Northern Oil and Gas by 16.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 443,264 shares of the company’s stock valued at $16,476,000 after purchasing an additional 62,254 shares in the last quarter. Institutional investors and hedge funds 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.