Morgan Stanley Raises Northern Oil and Gas (NYSE:NOG) Price Target to $41.00

Northern Oil and Gas (NYSE:NOG - Get Free Report) had its target price upped by analysts at Morgan Stanley from $38.00 to $41.00 in a report released on Monday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target indicates a potential downside of 3.19% from the stock's previous close.

NOG has been the topic of several other reports. Royal Bank of Canada restated an "outperform" rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Truist Financial decreased their target price on Northern Oil and Gas from $56.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, April 5th. Piper Sandler decreased their target price on Northern Oil and Gas from $39.00 to $38.00 and set a "neutral" rating on the stock in a research report on Friday, February 16th. Stifel Nicolaus decreased their target price on Northern Oil and Gas from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, January 23rd. Finally, Citigroup decreased their target price on Northern Oil and Gas from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $46.60.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock traded down $0.29 during trading hours on Monday, hitting $42.35. The company's stock had a trading volume of 1,382,269 shares, compared to its average volume of 1,262,529. The business has a 50 day moving average price of $37.19 and a two-hundred day moving average price of $37.07. Northern Oil and Gas has a 12-month low of $29.57 and a 12-month high of $43.64. The company has a market cap of $4.28 billion, a PE ratio of 4.22 and a beta of 1.86. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The business had revenue of $543.40 million during the quarter, compared to analysts' expectations of $555.31 million. During the same quarter in the previous year, the firm earned $1.43 earnings per share. Northern Oil and Gas's revenue was up 21.9% on a year-over-year basis. Analysts expect that Northern Oil and Gas will post 5.41 earnings per share for the current fiscal year.

Insider Activity

In other news, insider James B. Evans sold 3,150 shares of the company's stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the transaction, the insider now owns 73,753 shares of the company's stock, valued at $3,097,626. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider James B. Evans sold 3,150 shares of the company's stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the transaction, the insider now owns 73,753 shares of the company's stock, valued at $3,097,626. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nicholas L. O'grady sold 3,750 shares of the company's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total value of $153,675.00. Following the transaction, the chief executive officer now directly owns 228,082 shares in the company, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,944 shares of company stock valued at $436,614. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NOG. Captrust Financial Advisors grew its stake in Northern Oil and Gas by 1,349.4% in the second quarter. Captrust Financial Advisors now owns 1,145 shares of the company's stock worth $29,000 after purchasing an additional 1,066 shares in the last quarter. Quarry LP bought a new position in Northern Oil and Gas in the second quarter worth approximately $31,000. Principal Securities Inc. bought a new position in Northern Oil and Gas in the fourth quarter worth approximately $42,000. TFO Wealth Partners LLC grew its stake in Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company's stock worth $42,000 after purchasing an additional 1,121 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Northern Oil and Gas by 305.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company's stock worth $46,000 after purchasing an additional 927 shares in the last quarter. Institutional investors 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.