Truist Financial Raises Northern Oil and Gas (NYSE:NOG) Price Target to $56.00

Northern Oil and Gas (NYSE:NOG) had its price target upped by Truist Financial from $55.00 to $56.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on NOG. Bank of America cut Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 target price for the company. in a research note on Friday, January 5th. Jefferies Financial Group boosted their target price on shares of 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 upgraded shares of Northern Oil and Gas from a sell rating to a hold rating in a report on Monday, April 22nd. Raymond James cut their price objective on shares of Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating on the stock in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada reaffirmed an outperform rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas has a consensus rating of Moderate Buy and a consensus target price of $47.90.

Northern Oil and Gas Stock Up 0.7 %

Northern Oil and Gas stock opened at $40.26 on Wednesday. The firm has a 50 day moving average price of $39.61 and a two-hundred day moving average price of $37.36. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.32 and a current ratio of 0.96. Northern Oil and Gas has a 52-week low of $29.57 and a 52-week high of $43.75. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 6.53 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.10. The business had revenue of $396.35 million for 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%. Northern Oil and Gas’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.76 earnings per share. Equities analysts predict that Northern Oil and Gas will post 5.53 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.60 annualized dividend and a dividend yield of 3.97%. Northern Oil and Gas’s payout ratio is 25.93%.

Insider Buying and Selling

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,088 shares of the firm’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 $79,344.00. Following the transaction, the president now directly owns 122,359 shares in the company, valued at approximately $4,649,642. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider James B. Evans sold 945 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the transaction, the insider now directly owns 83,872 shares of the company’s stock, valued at $3,187,136. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the sale, the president now owns 122,359 shares in the company, valued at $4,649,642. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,944 shares of company stock worth $436,614. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northern Oil and Gas

Several large investors have recently made changes to their positions in NOG. Vanguard Group Inc. grew its position in Northern Oil and Gas by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock valued at $392,480,000 after buying an additional 2,827,642 shares during the period. Invesco Ltd. grew its position in shares of Northern Oil and Gas by 19.0% during the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock valued at $152,318,000 after acquiring an additional 605,197 shares during the period. American Century Companies Inc. increased its stake in shares of Northern Oil and Gas by 27.0% during the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after purchasing an additional 545,297 shares during the last quarter. Capstone Investment Advisors LLC raised its holdings in shares of Northern Oil and Gas by 8,679.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after purchasing an additional 507,129 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Northern Oil and Gas by 30.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock valued at $51,001,000 after purchasing an additional 324,958 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other 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.