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

Northern Oil and Gas (NYSE:NOG) had its price objective increased by stock analysts at Truist Financial from $44.00 to $51.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 24.60% from the company’s previous close.

Several other equities analysts also recently weighed in on NOG. Morgan Stanley reduced their target price on shares of 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. Piper Sandler reduced their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Bank of America boosted their price objective on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Northern Oil and Gas Trading Up 1.0 %

NYSE:NOG opened at $40.93 on Thursday. Northern Oil and Gas has a 12 month low of $31.13 and a 12 month high of $43.80. The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of 4.91 and a beta of 1.80. The firm has a fifty day simple moving average of $37.15 and a two-hundred day simple moving average of $38.60. The company has a current ratio of 1.23, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.20 by $0.20. The business had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 earnings per share. Analysts expect that Northern Oil and Gas will post 5.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Chad W. Allen sold 1,500 shares of the business’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 completion of the sale, the chief financial officer now directly owns 83,792 shares in the company, valued at approximately $3,351,680. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Chad W. Allen sold 1,500 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the sale, the chief financial officer now directly owns 83,792 shares in the company, valued at $3,351,680. This represents a 0.00 % decrease in their position. 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 the company’s stock in a transaction on 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 $4,153,226. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock valued at $248,113 in the last quarter. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOG. Janney Montgomery Scott LLC raised its holdings in Northern Oil and Gas by 17.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,992 shares of the company’s stock valued at $396,000 after buying an additional 1,453 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Northern Oil and Gas by 1.1% during the 1st quarter. Texas Permanent School Fund Corp now owns 79,883 shares of the company’s stock valued at $3,170,000 after purchasing an additional 875 shares during the period. Empowered Funds LLC increased its position in Northern Oil and Gas by 22.2% during the 1st quarter. Empowered Funds LLC now owns 25,523 shares of the company’s stock valued at $1,013,000 after purchasing an additional 4,631 shares during the period. Swiss National Bank increased its position in Northern Oil and Gas by 1.1% during the 1st quarter. Swiss National Bank now owns 178,500 shares of the company’s stock valued at $7,083,000 after purchasing an additional 2,000 shares during the period. Finally, Isthmus Partners LLC increased its position in Northern Oil and Gas by 49.9% during the 1st quarter. Isthmus Partners LLC now owns 60,324 shares of the company’s stock valued at $2,394,000 after purchasing an additional 20,070 shares during the period. 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.