Northern Oil and Gas (NYSE:NOG) PT Raised to $41.00 at Morgan Stanley

Northern Oil and Gas (NYSE:NOG) had its target price boosted by equities researchers at Morgan Stanley from $38.00 to $41.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 4.09% from the stock’s current price.

NOG has been the subject of several other research reports. Jefferies Financial Group upped their price target on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Citigroup lowered their price target on shares of Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Bank of America lowered shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price objective for the company. in a research note on Friday, January 5th. Finally, Piper Sandler reduced their price objective on shares of Northern Oil and Gas from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.60.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $42.75 on Monday. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 4.26 and a beta of 1.86. 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 has a 1 year low of $29.57 and a 1 year high of $43.64. The firm has a 50-day moving average of $37.40 and a two-hundred day moving average of $37.08.

Northern Oil and Gas (NYSE:NOG) last released 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 analysts’ expectations of $555.31 million. During the same period last year, the firm earned $1.43 earnings per share. Northern Oil and Gas’s quarterly revenue was up 21.9% on a year-over-year basis. On average, research analysts forecast that Northern Oil and Gas will post 5.41 earnings per share for the current year.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of the company’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 transaction of $35,910.00. Following the transaction, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the sale, the insider now directly owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James B. Evans sold 945 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 83,872 shares in the company, valued at $3,187,136. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,944 shares of company stock worth $436,614. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Northern Oil and Gas

Several large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Northern Oil and Gas by 9.6% in the 2nd quarter. BlackRock Inc. now owns 11,963,727 shares of the company’s stock valued at $410,595,000 after acquiring an additional 1,048,699 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Northern Oil and Gas by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock valued at $392,480,000 after acquiring an additional 2,827,642 shares during the last quarter. State Street Corp boosted its holdings in shares of Northern Oil and Gas by 12.3% in the 1st quarter. State Street Corp now owns 4,515,908 shares of the company’s stock valued at $138,625,000 after acquiring an additional 494,969 shares during the last quarter. Invesco Ltd. boosted its holdings in Northern Oil and Gas by 19.0% during the third quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock worth $152,318,000 after buying an additional 605,197 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Northern Oil and Gas by 27.0% during the third quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after buying an additional 545,297 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.