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

Northern Oil and Gas (NYSE:NOG) had its price target upped by Stifel Nicolaus from $54.00 to $55.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Bank of America downgraded Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 price target on the stock. in a report on Friday, January 5th. Truist Financial reduced their target price on Northern Oil and Gas from $56.00 to $55.00 and set a buy rating on the stock in a report on Friday, April 5th. StockNews.com upgraded Northern Oil and Gas from a sell rating to a hold rating in a report on Monday. Jefferies Financial Group upped their target price on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a buy rating in a report on Thursday, March 21st. Finally, Raymond James reduced their target price on Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating on the stock in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $47.30.

Northern Oil and Gas Stock Up 1.1 %

Shares of NYSE:NOG opened at $43.11 on Tuesday. Northern Oil and Gas has a 1 year low of $29.57 and a 1 year high of $43.64. The company has a market cap of $4.36 billion, a PE ratio of 4.29 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. The stock’s 50-day moving average is $38.40 and its 200 day moving average is $37.23.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $543.40 million for the quarter, compared to analysts’ expectations of $555.31 million. During the same quarter in the prior year, the firm earned $1.43 EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. Sell-side analysts anticipate that Northern Oil and Gas will post 5.43 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.71%. Northern Oil and Gas’s dividend payout ratio is currently 15.94%.

Insider Transactions at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 2,088 shares of the business’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 $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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, President Adam A. Dirlam sold 2,088 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 $79,344.00. Following the transaction, the president now directly owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James B. Evans sold 3,150 shares of the company’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 value of $132,300.00. Following the completion of the transaction, the insider now directly owns 73,753 shares in the company, valued at $3,097,626. The disclosure for this sale can be found here. Insiders have sold a total of 10,944 shares of company stock valued at $436,614 in the last ninety days. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its position in Northern Oil and Gas by 4.8% in the 3rd quarter. Private Advisor Group LLC now owns 6,118 shares of the company’s stock valued at $246,000 after acquiring an additional 282 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Northern Oil and Gas by 1.3% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock valued at $823,000 after buying an additional 290 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Northern Oil and Gas by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 29,761 shares of the company’s stock valued at $1,197,000 after buying an additional 306 shares during the period. Kestra Advisory Services LLC lifted its holdings in shares of Northern Oil and Gas by 1.1% during the 3rd quarter. Kestra Advisory Services LLC now owns 27,673 shares of the company’s stock valued at $1,113,000 after buying an additional 309 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Northern Oil and Gas by 3.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,197 shares of the company’s stock valued at $450,000 after buying an additional 332 shares during the period. 98.80% of the stock is owned by 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.