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 target price raised by Piper Sandler from $30.00 to $31.00 in a research report report published on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other equities research analysts have also weighed in on NOG. Royal Bank Of Canada reduced their price objective on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Monday. Bank of America boosted their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Morgan Stanley dropped their price objective on shares of 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. Raymond James Financial reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Finally, Citigroup upped their price target on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Northern Oil and Gas presently has an average rating of "Hold" and a consensus price target of $38.78.

Northern Oil and Gas Price Performance

NYSE:NOG traded up $0.62 during trading hours on Thursday, hitting $27.55. The company's stock had a trading volume of 2,818,666 shares, compared to its average volume of 1,608,096. The stock has a fifty day simple moving average of $29.04 and a 200-day simple moving average of $30.58. The company has a market capitalization of $2.72 billion, a P/E ratio of 4.29 and a beta of 1.50. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92. Northern Oil and Gas has a twelve month low of $19.88 and a twelve month high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share 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 the consensus estimate of $568.87 million. Northern Oil and Gas had a net margin of 26.64% and a return on equity of 23.46%. The firm's quarterly revenue was up 51.9% compared to the same quarter last year. During the same period last year, the company posted $1.28 EPS. On average, analysts anticipate that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

Institutional Investors Weigh In On Northern Oil and Gas

Several large investors have recently modified their holdings of NOG. State of Alaska Department of Revenue boosted its position in Northern Oil and Gas by 25.3% during 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 acquiring an additional 19,586 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Northern Oil and Gas by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 494,508 shares of the company's stock valued at $14,949,000 after purchasing an additional 12,711 shares in the last quarter. Woodline Partners LP acquired a new stake in Northern Oil and Gas during the fourth quarter worth approximately $997,000. GAMMA Investing LLC grew its stake in Northern Oil and Gas by 2,067.5% during the first 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 period. Finally, American Century Companies Inc. increased its holdings in Northern Oil and Gas by 3.9% in the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock worth $242,937,000 after purchasing an additional 243,531 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.