Northern Oil and Gas (NYSEAMERICAN:NOG) Price Target Increased to $42.00 by Analysts at Truist

Northern Oil and Gas (NYSEAMERICAN:NOG) had its target price increased by Truist from $40.00 to $42.00 in a report released on Friday morning, The Fly reports.

Several other research firms also recently weighed in on NOG. Zacks Investment Research downgraded shares of Northern Oil and Gas from a buy rating to a hold rating and set a $21.00 target price for the company. in a report on Tuesday, December 7th. Raymond James raised their target price on shares of Northern Oil and Gas from $38.00 to $43.00 and gave the company a strong-buy rating in a report on Friday, November 19th. Bank of America upgraded shares of Northern Oil and Gas from a neutral rating to a buy rating and set a $28.00 target price for the company in a report on Friday, December 17th. Finally, Roth Capital raised their target price on shares of Northern Oil and Gas from $22.00 to $32.00 and gave the company a buy rating in a report on Tuesday, October 26th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $26.10.

Shares of NYSEAMERICAN NOG opened at $23.85 on Friday. Northern Oil and Gas has a 52 week low of $9.46 and a 52 week high of $27.87. The stock has a market capitalization of $1.58 billion, a P/E ratio of -3.75, a P/E/G ratio of 0.10 and a beta of 2.41.

Northern Oil and Gas (NYSEAMERICAN:NOG) last posted its earnings results on Friday, November 5th. The energy company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.05). Northern Oil and Gas had a negative net margin of 136.31% and a negative return on equity of 112.35%. The business had revenue of $259.67 million for the quarter, compared to analysts’ expectations of $214.99 million. Research analysts forecast that Northern Oil and Gas will post 4.06 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 31st. Investors of record on Thursday, December 30th will be given a $0.08 dividend. The ex-dividend date is Wednesday, December 29th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.05. This represents a $0.32 annualized dividend and a dividend yield of 1.34%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently -5.03%.

In related news, major shareholder Cresta Greenwood, Llc sold 134,422 shares of the firm’s stock in a transaction that occurred on Thursday, November 18th. The shares were sold at an average price of $19.10, for a total value of $2,567,460.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in NOG. BlackRock Inc. lifted its position in shares of Northern Oil and Gas by 210.1% during the second quarter. BlackRock Inc. now owns 3,561,127 shares of the energy company’s stock worth $73,966,000 after purchasing an additional 2,412,866 shares in the last quarter. FMR LLC lifted its position in shares of Northern Oil and Gas by 92.5% during the first quarter. FMR LLC now owns 4,353,200 shares of the energy company’s stock worth $11,928,000 after purchasing an additional 2,092,100 shares in the last quarter. Deprince Race & Zollo Inc. lifted its position in shares of Northern Oil and Gas by 162.4% during the third quarter. Deprince Race & Zollo Inc. now owns 1,364,461 shares of the energy company’s stock worth $29,199,000 after purchasing an additional 844,377 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Northern Oil and Gas by 26.2% during the second quarter. Vanguard Group Inc. now owns 3,315,310 shares of the energy company’s stock worth $68,859,000 after purchasing an additional 688,075 shares in the last quarter. Finally, 12th Street Asset Management Company LLC acquired a new position in shares of Northern Oil and Gas during the third quarter worth $11,561,000. 84.31% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Company Profile

Northern Oil & Gas, Inc engages in the acquisition, exploration, development, and production of crude oil and natural gas properties. It focuses on the Bakken and Three Forks formation within the Williston Basin in North Dakota and Montana. The company was founded on March 20, 2007 and is headquartered in Minnetonka, MN.

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