Northern Oil and Gas (NYSE:NOG) PT Raised to $55.00 at Stifel Nicolaus

Northern Oil and Gas (NYSE:NOG) had its price objective lifted by stock analysts at Stifel Nicolaus from $54.00 to $55.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 28.00% from the company’s previous close.

NOG has been the subject of a number of other reports. Truist Financial decreased their price target on Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, April 5th. 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 note on Monday, April 15th. Jefferies Financial Group lifted their target price on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. StockNews.com raised Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Raymond James decreased their target price on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $47.30.

Northern Oil and Gas Price Performance

NYSE:NOG opened at $42.97 on Tuesday. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 4.28 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 business has a 50 day simple moving average of $38.60 and a 200-day simple moving average of $37.27. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.32.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Friday, February 23rd. The company reported $1.61 earnings per share (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 company had revenue of $543.40 million during the quarter, compared to the consensus estimate of $555.31 million. During the same period in the previous year, the business earned $1.43 earnings per share. Northern Oil and Gas’s revenue for the quarter was up 21.9% on a year-over-year basis. Equities analysts forecast that Northern Oil and Gas will post 5.47 EPS for the current year.

Insider Buying and Selling

In related news, insider James B. Evans sold 945 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the transaction, the insider now directly owns 83,872 shares in the company, valued at approximately $3,187,136. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider James B. Evans sold 945 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the transaction, the insider now directly owns 83,872 shares in the company, valued at approximately $3,187,136. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the transaction, the chief executive officer now owns 228,082 shares in the company, valued at $9,346,800.36. The disclosure for this sale can be found here. Insiders have sold a total of 10,944 shares of company stock worth $436,614 in the last ninety days. 2.80% of the stock is owned by insiders.

Institutional Trading of Northern Oil and Gas

Several large investors have recently added to or reduced their stakes in the company. Simplicity Wealth LLC purchased a new stake in Northern Oil and Gas during the 1st quarter valued at about $553,000. Allspring Global Investments Holdings LLC grew its stake in Northern Oil and Gas by 5.7% during 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 purchasing an additional 77,537 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in Northern Oil and Gas during the 1st quarter valued at about $267,000. Doliver Advisors LP grew its stake in Northern Oil and Gas by 5.6% during the 1st quarter. Doliver Advisors LP now owns 28,072 shares of the company’s stock valued at $1,114,000 after purchasing an additional 1,490 shares during the last quarter. Finally, Range Financial Group LLC lifted its holdings in shares of Northern Oil and Gas by 12.6% in the 1st quarter. Range Financial Group LLC now owns 7,289 shares of the company’s stock valued at $289,000 after buying an additional 816 shares during the period. Hedge funds and other 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.