Truist Financial Trims Northern Oil and Gas (NYSE:NOG) Target Price to $55.00

Northern Oil and Gas (NYSE:NOG - Get Free Report) had its target price cut by stock analysts at Truist Financial from $56.00 to $55.00 in a report released on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 32.59% from the stock's current price.

NOG has been the topic of a number of other research reports. Piper Sandler cut their price target on shares of Northern Oil and Gas from $39.00 to $38.00 and set a "neutral" rating on the stock in a report on Friday, February 16th. Morgan Stanley dropped their target price on shares of Northern Oil and Gas from $39.00 to $38.00 and set an "equal weight" rating on the stock in a report on Thursday, March 28th. Bank of America downgraded shares of Northern Oil and Gas from a "buy" rating to an "underperform" rating and set a $39.00 target price on the stock. in a report on Friday, January 5th. Jefferies Financial Group lifted their target price on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus dropped their target price on shares of Northern Oil and Gas from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of "Moderate Buy" and an average target price of $46.30.

Northern Oil and Gas Stock Up 1.8 %

Shares of NYSE:NOG traded up $0.73 during trading on Friday, reaching $41.48. 1,481,207 shares of the company traded hands, compared to its average volume of 1,248,425. The firm has a fifty day simple moving average of $36.11 and a 200 day simple moving average of $37.00. The firm has a market cap of $4.21 billion, a P/E ratio of 4.13 and a beta of 1.86. Northern Oil and Gas has a 1-year low of $29.57 and a 1-year high of $43.64. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.90.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.03). The company had revenue of $543.40 million for the quarter, compared to analyst estimates of $555.31 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The company's quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the business earned $1.43 EPS. Analysts anticipate that Northern Oil and Gas will post 5.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Nicholas L. O'grady sold 3,750 shares of Northern Oil and Gas stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $35.63, for a total transaction of $133,612.50. Following the sale, the chief executive officer now directly owns 220,825 shares in the company, valued at approximately $7,867,994.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Northern Oil and Gas news, CEO Nicholas L. O'grady sold 3,750 shares of the business's stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $35.63, for a total value of $133,612.50. Following the transaction, the chief executive officer now directly owns 220,825 shares in the company, valued at $7,867,994.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider James B. Evans sold 945 shares of the business's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the transaction, the insider now owns 83,872 shares in the company, valued at $3,187,136. The disclosure for this sale can be found here. Insiders have sold 11,544 shares of company stock worth $437,927 in the last ninety days. Insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Northern Oil and Gas

A number of institutional investors have recently modified their holdings of NOG. Bank of New York Mellon Corp raised its stake in shares of Northern Oil and Gas by 7.2% in the first quarter. Bank of New York Mellon Corp now owns 434,031 shares of the company's stock worth $12,236,000 after acquiring an additional 29,141 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Northern Oil and Gas in the first quarter worth about $200,000. Cetera Advisor Networks LLC raised its stake in shares of Northern Oil and Gas by 40.4% in the first quarter. Cetera Advisor Networks LLC now owns 17,783 shares of the company's stock worth $501,000 after acquiring an additional 5,121 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Northern Oil and Gas in the first quarter worth about $207,000. Finally, Citigroup Inc. raised its stake in shares of Northern Oil and Gas by 32.9% in the first quarter. Citigroup Inc. now owns 88,939 shares of the company's stock worth $2,507,000 after acquiring an additional 22,033 shares during the last quarter. 98.80% of the stock is 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.