Northern Oil and Gas (NYSE:NOG) Given New $31.00 Price Target at Piper Sandler

Northern Oil and Gas (NYSE:NOG - Free Report) had its price objective hoisted by Piper Sandler from $30.00 to $31.00 in a report issued on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

NOG has been the subject of a number of other reports. Bank of America upped their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Morgan Stanley decreased their price target on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Mizuho reduced their target price on Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating for the company in a report on Wednesday. Royal Bank Of Canada reduced their target price on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Monday, July 14th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of "Hold" and a consensus target price of $38.78.

Northern Oil and Gas Stock Performance

Shares of NYSE:NOG traded down $0.29 during trading on Thursday, hitting $27.24. 2,044,397 shares of the stock traded hands, compared to its average volume of 1,615,180. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 4.24 and a beta of 1.50. The company has a fifty day moving average price of $29.08 and a two-hundred day moving average price of $30.41. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.96. Northern Oil and Gas has a 52-week low of $19.88 and a 52-week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.21. The company had revenue of $602.10 million for the quarter, compared to analysts' expectations of $568.87 million. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. Northern Oil and Gas's revenue for the quarter was up 51.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.28 earnings per share. As a group, equities analysts predict that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.61%. Northern Oil and Gas's dividend payout ratio (DPR) is 28.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOG. State of Alaska Department of Revenue lifted its holdings in shares of Northern Oil and Gas by 25.3% in the first quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company's stock valued at $2,932,000 after buying an additional 19,586 shares during the period. Principal Financial Group Inc. raised its position in Northern Oil and Gas by 2.6% during the first quarter. Principal Financial Group Inc. now owns 494,508 shares of the company's stock valued at $14,949,000 after buying an additional 12,711 shares during the period. Woodline Partners LP acquired a new position in Northern Oil and Gas during the fourth quarter valued at $997,000. New York State Common Retirement Fund increased its position in Northern Oil and Gas by 1.9% in the 1st quarter. New York State Common Retirement Fund now owns 1,092,152 shares of the company's stock worth $33,016,000 after purchasing an additional 20,186 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Northern Oil and Gas by 2,067.5% in the 1st quarter. GAMMA Investing LLC now owns 45,950 shares of the company's stock worth $1,520,000 after purchasing an additional 43,830 shares during the last quarter. Institutional investors and hedge funds 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.