Northern Oil and Gas (NYSE:NOG) Stock Price Expected to Rise, Piper Sandler Analyst Says

Northern Oil and Gas (NYSE:NOG) had its price objective upped by equities research analysts at Piper Sandler from $40.00 to $41.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential downside of 0.19% from the company’s previous close.

A number of other research firms also recently commented on NOG. Truist Financial increased their target price on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Mizuho initiated coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They set an “outperform” rating and a $47.00 target price on the stock. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. 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. Finally, Morgan Stanley reduced their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.60.

Northern Oil and Gas Trading Down 0.4 %

NYSE:NOG opened at $41.08 on Monday. Northern Oil and Gas has a 1 year low of $31.13 and a 1 year high of $43.80. The stock has a market cap of $4.10 billion, a P/E ratio of 4.93 and a beta of 1.80. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a 50-day simple moving average of $37.64 and a 200-day simple moving average of $38.50.

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 firm 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%. The firm’s quarterly revenue was up 140.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 earnings per share. As a group, analysts anticipate that Northern Oil and Gas will post 5.38 earnings per share for the current fiscal year.

Insider Transactions at Northern Oil and Gas

In other news, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the transaction, the insider now directly owns 105,713 shares in the company, valued at $3,727,440.38. The trade was a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s 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 completion of the sale, the president now owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,508 shares of company stock worth $248,113 over the last 90 days. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Northern Oil and Gas

Institutional investors have recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas in the third quarter valued at $25,000. Signaturefd LLC lifted its stake in shares of Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares during the period. GAMMA Investing LLC boosted its holdings in Northern Oil and Gas by 91.5% during the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after buying an additional 528 shares in the last quarter. Quarry LP boosted its holdings in Northern Oil and Gas by 338.8% during the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after buying an additional 874 shares in the last quarter. Finally, Covestor Ltd grew its position in Northern Oil and Gas by 122.6% during the third quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after buying an additional 1,048 shares during the period. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

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.