Citigroup Lowers Northern Oil and Gas (NYSE:NOG) Price Target to $50.00

Northern Oil and Gas (NYSE:NOG) had its target price dropped by equities research analysts at Citigroup from $55.00 to $50.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 24.22% from the stock’s previous close.

Several other brokerages have also recently weighed in on NOG. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Stifel Nicolaus boosted their price target on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Raymond James dropped their price objective on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Bank of America cut Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 target price on the stock. in a research note on Friday, January 5th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas has an average rating of “Moderate Buy” and an average target price of $47.90.

Northern Oil and Gas Stock Up 0.7 %

NOG opened at $40.25 on Friday. The business’s fifty day simple moving average is $39.61 and its 200 day simple moving average is $37.34. Northern Oil and Gas has a 52 week low of $29.57 and a 52 week high of $43.75. The company has a quick ratio of 1.32, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The stock has a market cap of $4.07 billion, a PE ratio of 6.52 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last issued 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 business had revenue of $396.35 million during the quarter, compared to analyst estimates of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. 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 prior year, the firm earned $1.76 earnings per share. As a group, research analysts expect that Northern Oil and Gas will post 5.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Northern Oil and Gas

In related news, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the sale, the insider now directly owns 73,753 shares in the company, valued at $3,097,626. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the transaction, the insider now directly owns 73,753 shares in the company, valued at $3,097,626. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $79,344.00. Following the sale, the president now directly owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,944 shares of company stock valued at $436,614. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. TFO Wealth Partners LLC lifted its holdings in shares of Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after buying an additional 1,121 shares in the last quarter. Principal Securities Inc. purchased a new stake in Northern Oil and Gas in the 4th quarter worth $42,000. SRS Capital Advisors Inc. boosted its holdings in shares of Northern Oil and Gas by 305.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock valued at $46,000 after purchasing an additional 927 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Northern Oil and Gas during the 3rd quarter valued at about $67,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Northern Oil and Gas by 74.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after purchasing an additional 930 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

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.