Northern Oil and Gas (NYSE:NOG) Given New $25.00 Price Target at Piper Sandler

Key Points

• Piper Sandler has lowered its price target for Northern Oil and Gas from $31.00 to $25.00, maintaining a "neutral" rating on the stock.
• Northern Oil and Gas reported earnings per share of $1.37 for the last quarter, significantly outperforming analysts' estimates of $0.87.
• Institutional investors hold 98.80% of Northern Oil and Gas stock, indicating strong confidence in the company.

Northern Oil and Gas (NYSE:NOG - Get Free Report) had its price target lowered by analysts at Piper Sandler from $31.00 to $25.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Piper Sandler's price objective suggests a potential downside of 0.68% from the company's current price.

NOG has been the subject of a number of other research reports. Citigroup raised their price target on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Bank of America raised their price objective on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Raymond James Financial reissued a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Royal Bank Of Canada lowered their price objective on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a research report on Monday, July 14th. Finally, Mizuho lowered their price objective on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has an average rating of "Moderate Buy" and a consensus price target of $38.11.

Northern Oil and Gas Trading Up 0.6%

Shares of NYSE:NOG traded up $0.14 during trading on Monday, reaching $25.17. 836,413 shares of the company traded hands, compared to its average volume of 1,823,272. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 4.15 and a beta of 1.55. Northern Oil and Gas has a 52-week low of $19.88 and a 52-week high of $44.31. The company has a current ratio of 1.21, a quick ratio of 0.92 and a debt-to-equity ratio of 0.98. The business's fifty day moving average is $29.05 and its 200-day moving average is $29.51.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.50. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. The firm had revenue of $706.81 million during the quarter, compared to analyst estimates of $555.54 million. During the same quarter in the prior year, the firm posted $1.46 earnings per share. The business's quarterly revenue was up 26.0% compared to the same quarter last year. As a group, analysts forecast that Northern Oil and Gas will post 5.18 EPS for the current year.

Institutional Investors Weigh In On Northern Oil and Gas

Several large investors have recently bought and sold shares of NOG. LPL Financial LLC boosted its position in Northern Oil and Gas by 7.7% in the fourth quarter. LPL Financial LLC now owns 64,769 shares of the company's stock worth $2,407,000 after purchasing an additional 4,631 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Northern Oil and Gas by 15.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,207 shares of the company's stock valued at $528,000 after buying an additional 1,906 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Northern Oil and Gas during the 4th quarter valued at about $29,000. Envestnet Asset Management Inc. lifted its position in shares of Northern Oil and Gas by 9.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 395,584 shares of the company's stock valued at $14,700,000 after buying an additional 33,948 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Northern Oil and Gas by 2.0% during the 4th quarter. Legal & General Group Plc now owns 257,331 shares of the company's stock valued at $9,562,000 after buying an additional 4,938 shares in the last quarter. 98.80% of the stock is currently owned by 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.

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