Northern Oil and Gas (NYSE:NOG) Given New $52.00 Price Target at Truist Financial

Northern Oil and Gas (NYSE:NOG) had its price target raised by Truist Financial from $51.00 to $52.00 in a research report sent to investors on Friday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley lowered their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Mizuho began coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. Piper Sandler boosted their price objective on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Finally, Royal Bank of Canada cut Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.60.

Northern Oil and Gas Price Performance

Shares of NOG opened at $40.71 on Friday. The firm has a fifty day simple moving average of $39.90 and a two-hundred day simple moving average of $38.77. The firm has a market cap of $4.06 billion, a PE ratio of 4.89 and a beta of 1.85. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas has a 1-year low of $31.13 and a 1-year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter in the prior year, the business earned $1.73 earnings per share. Northern Oil and Gas’s revenue for the quarter was up 140.0% compared to the same quarter last year. On average, equities analysts anticipate that Northern Oil and Gas will post 5.4 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction dated 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 transaction, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Chad W. Allen sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the sale, the chief financial officer now owns 83,792 shares in the company, valued at approximately $3,351,680. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,508 shares of company stock worth $248,113. Insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

A number of institutional investors have recently bought and sold shares of NOG. Icon Wealth Advisors LLC bought a new position in Northern Oil and Gas during the third quarter valued at $828,000. American Century Companies Inc. raised its position in Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after purchasing an additional 552,645 shares during the period. 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 purchasing an additional 70,709 shares during the last quarter. Qsemble Capital Management LP purchased a new position in shares of Northern Oil and Gas during the second quarter valued at approximately $625,000. Finally, Mutual of America Capital Management LLC grew its stake in shares of Northern Oil and Gas by 16.3% during the second quarter. Mutual of America Capital Management LLC now owns 443,264 shares of the company’s stock valued at $16,476,000 after buying an additional 62,254 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

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.