Northern Oil and Gas (NYSEAMERICAN:NOG) Price Target Raised to $51.00 at Piper Sandler

Northern Oil and Gas (NYSEAMERICAN:NOGGet Rating) had its target price hoisted by equities researchers at Piper Sandler from $43.00 to $51.00 in a research report issued to clients and investors on Thursday, The Fly reports. Piper Sandler’s price objective suggests a potential upside of 40.61% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. TheStreet lowered Northern Oil and Gas from a “c-” rating to a “d” rating in a research note on Thursday, May 5th. Wells Fargo & Company lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating and set a $34.00 target price on the stock. in a research note on Monday, March 14th. They noted that the move was a valuation call. Citigroup upped their target price on Northern Oil and Gas from $31.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. Johnson Rice raised Northern Oil and Gas from an “accumulate” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, March 15th. Finally, Truist Financial increased their price target on Northern Oil and Gas from $45.00 to $50.00 in a research note on Thursday, April 21st. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $37.91.

NYSEAMERICAN NOG opened at $36.27 on Thursday. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -35.56, a price-to-earnings-growth ratio of 0.51 and a beta of 2.25. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.66 and a current ratio of 0.66. Northern Oil and Gas has a 12-month low of $14.03 and a 12-month high of $39.10.

Northern Oil and Gas (NYSEAMERICAN:NOGGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The energy company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.27 by $0.31. Northern Oil and Gas had a negative return on equity of 351.74% and a net margin of 1.28%. During the same quarter last year, the business posted $0.62 EPS. As a group, equities research analysts forecast that Northern Oil and Gas will post 5.76 EPS for the current year.

In other Northern Oil and Gas news, insider Michael D. Kelly sold 13,000 shares of the company’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $28.34, for a total value of $368,420.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lisa Meier sold 12,500 shares of the company’s stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $25.88, for a total transaction of $323,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 543,360 shares of company stock valued at $17,886,479. 4.40% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in Northern Oil and Gas by 25.9% in the first quarter. Bank of America Corp DE now owns 392,861 shares of the energy company’s stock worth $11,075,000 after acquiring an additional 80,805 shares during the last quarter. Sawtooth Solutions LLC acquired a new stake in shares of Northern Oil and Gas in the first quarter valued at approximately $426,000. Range Financial Group LLC acquired a new stake in shares of Northern Oil and Gas in the first quarter valued at approximately $408,000. Penn Capital Management Company LLC increased its stake in shares of Northern Oil and Gas by 1,189.2% in the first quarter. Penn Capital Management Company LLC now owns 418,759 shares of the energy company’s stock valued at $10,904,000 after purchasing an additional 386,276 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Northern Oil and Gas in the first quarter valued at approximately $128,000. 88.47% of the stock is currently owned by institutional investors and hedge funds.

About Northern Oil and Gas (Get Rating)

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. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.

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