Northern Oil and Gas (NYSE:NOG) Given New $37.00 Price Target at Piper Sandler

Northern Oil and Gas (NYSE:NOG) had its price target reduced by Piper Sandler from $41.00 to $37.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently commented on NOG. Royal Bank of Canada cut shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. Jefferies Financial Group started coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target on the stock. Morgan Stanley lowered their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Mizuho cut 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 upped their target price on Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.20.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $38.48 on Tuesday. The firm’s fifty day simple moving average is $39.89 and its 200-day simple moving average is $38.74. Northern Oil and Gas has a 12 month low of $31.13 and a 12 month high of $44.31. The stock has a market capitalization of $3.84 billion, a price-to-earnings ratio of 4.62 and a beta of 1.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23.

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, beating 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 company had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. During the same period last year, the business posted $1.73 EPS. The company’s revenue was up 140.0% on a year-over-year basis. As a group, equities analysts forecast that Northern Oil and Gas will post 5.4 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently declared 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 yield of 4.37%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio is currently 20.17%.

Insider Buying and Selling at Northern Oil and Gas

In related news, insider Erik J. Romslo sold 1,500 shares of the company’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 transaction of $52,890.00. Following 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 1.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $96,558.00. Following the completion of the transaction, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock worth $248,113 in the last 90 days. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northern Oil and Gas

A number of hedge funds have recently made changes to their positions in the business. Legacy Investment Solutions LLC bought a new position in shares of Northern Oil and Gas in the third quarter worth $25,000. Signaturefd LLC lifted its holdings in Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after purchasing an additional 427 shares during the period. Quarry LP grew its position in Northern Oil and Gas by 338.8% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after buying an additional 874 shares in the last quarter. GAMMA Investing LLC increased its stake in Northern Oil and Gas by 58.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock valued at $62,000 after buying an additional 647 shares during the period. Finally, Covestor Ltd raised its position in shares of Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after buying an additional 1,048 shares in the last quarter. 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.