Northern Oil and Gas (NYSE:NOG) PT Lowered to $54.00

Northern Oil and Gas (NYSE:NOG) had its target price lowered by Truist Financial from $57.00 to $54.00 in a research report report published on Monday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research firms also recently weighed in on NOG. Citigroup dropped their target price on Northern Oil and Gas from $55.00 to $50.00 and set a buy rating for the company in a research report on Friday, May 3rd. Piper Sandler boosted their price target on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the stock a neutral rating in a research note on Tuesday, May 14th. StockNews.com lowered shares of Northern Oil and Gas from a hold rating to a sell rating in a research report on Thursday, July 18th. Royal Bank of Canada reissued an outperform rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Finally, Morgan Stanley lifted their target price on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $48.80.

Northern Oil and Gas Stock Performance

NYSE NOG opened at $39.46 on Monday. The stock has a market capitalization of $3.99 billion, a PE ratio of 6.40 and a beta of 1.79. Northern Oil and Gas has a 1 year low of $31.13 and a 1 year high of $43.75. The company’s 50 day simple moving average is $38.90 and its two-hundred day simple moving average is $38.04. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.96.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.10. The company had revenue of $396.35 million during 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%. The firm’s quarterly revenue was down 31.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.76 earnings per share. Analysts predict that Northern Oil and Gas will post 5.03 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.05%. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $37.88, for a total transaction of $52,728.96. Following the sale, the president now directly owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.88, for a total value of $52,728.96. Following the transaction, the president now directly owns 107,628 shares in the company, valued at approximately $4,076,948.64. The disclosure for this sale can be found here. Insiders sold 6,534 shares of company stock worth $252,144 over the last 90 days. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently modified their holdings of NOG. Vanguard Group Inc. boosted its position in Northern Oil and Gas by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after acquiring an additional 43,940 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Northern Oil and Gas by 13.8% during the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock valued at $69,430,000 after buying an additional 212,030 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Northern Oil and Gas by 5.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock valued at $56,850,000 after buying an additional 77,537 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Northern Oil and Gas by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,422,435 shares of the company’s stock worth $56,442,000 after buying an additional 16,081 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Northern Oil and Gas by 30.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock worth $51,001,000 after acquiring an additional 324,958 shares in the last quarter. 98.80% of the stock is currently 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.