Northern Oil and Gas (NYSE:NOG) Price Target Raised to $43.00 at Piper Sandler

Northern Oil and Gas (NYSE:NOG - Free Report) had its target price boosted by Piper Sandler from $42.00 to $43.00 in a research report report published on Tuesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada reissued an outperform rating and set a $46.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Raymond James decreased their price objective on shares of Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating on the stock in a report on Wednesday, January 24th. Truist Financial boosted their target price on Northern Oil and Gas from $55.00 to $56.00 and gave the company a buy rating in a research report on Wednesday, May 1st. Morgan Stanley raised their price target on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Finally, Stifel Nicolaus lifted their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $48.00.

Northern Oil and Gas Price Performance

NOG stock traded up $0.51 during midday trading on Tuesday, reaching $40.13. The stock had a trading volume of 755,731 shares, compared to its average volume of 1,273,753. The company's fifty day simple moving average is $40.28 and its 200 day simple moving average is $37.37. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 6.50 and a beta of 1.84. Northern Oil and Gas has a 52-week low of $29.57 and a 52-week high of $43.75.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.10. The company had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. Northern Oil and Gas's revenue was down 31.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 EPS. As a group, sell-side analysts predict that Northern Oil and Gas will post 5.25 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, June 27th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Thursday, June 27th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 25.93%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of Northern Oil and Gas stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares of the company's stock, valued at approximately $3,187,136. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Northern Oil and Gas news, insider James B. Evans sold 3,150 shares of Northern Oil and Gas 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 filing with the SEC, which is available at this link. Also, insider James B. Evans sold 945 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the sale, the insider now owns 83,872 shares of the company's stock, valued at approximately $3,187,136. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,944 shares of company stock valued at $436,614. Insiders own 2.80% of the company's stock.

Institutional Trading of Northern Oil and Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Securities Inc. purchased a new stake in shares of Northern Oil and Gas during the fourth quarter worth approximately $42,000. TFO Wealth Partners LLC raised its position in Northern Oil and Gas by 112,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company's stock worth $42,000 after buying an additional 1,121 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in shares of Northern Oil and Gas by 305.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company's stock worth $46,000 after acquiring an additional 927 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Northern Oil and Gas in the third quarter valued at about $67,000. Finally, Quadrant Capital Group LLC grew its holdings in Northern Oil and Gas by 74.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company's stock worth $81,000 after acquiring an additional 930 shares during the period. 98.80% of the stock is owned by hedge funds and other 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.