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

Northern Oil and Gas (NYSE:NOG) had its price target increased by investment analysts at Stifel Nicolaus from $54.00 to $55.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 27.20% from the stock’s current price.

A number of other brokerages have also recently issued reports on NOG. StockNews.com upgraded Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Monday. Raymond James dropped 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 research report on Wednesday, January 24th. Piper Sandler lifted their target price on Northern Oil and Gas from $38.00 to $42.00 and gave the company a “neutral” rating in a research note on Friday. Jefferies Financial Group upped their price objective on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $47.30.

Northern Oil and Gas Trading Up 1.4 %

Shares of NYSE NOG traded up $0.58 during trading on Tuesday, reaching $43.24. The stock had a trading volume of 385,666 shares, compared to its average volume of 1,267,777. The company has a market cap of $4.37 billion, a P/E ratio of 4.30 and a beta of 1.86. Northern Oil and Gas has a fifty-two week low of $29.57 and a fifty-two week high of $43.64. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32. The business’s 50-day moving average price is $38.19 and its 200-day moving average price is $37.20.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.03). The company had revenue of $543.40 million for the quarter, compared to analyst estimates of $555.31 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. Northern Oil and Gas’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. On average, equities research analysts predict that Northern Oil and Gas will post 5.43 EPS for the current fiscal year.

Insiders Place Their Bets

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 sale, the insider now directly owns 83,872 shares in the company, valued at approximately $3,187,136. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider James B. Evans sold 945 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the sale, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was 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 approximately $3,097,626. The disclosure for this sale can be found here. Insiders sold a total of 10,944 shares of company stock worth $436,614 over the last quarter. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Northern Oil and Gas by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after acquiring an additional 2,827,642 shares during the last quarter. Invesco Ltd. grew its holdings in shares of 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 purchasing an additional 605,197 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Northern Oil and Gas by 27.0% in the third quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock valued at $103,085,000 after buying an additional 545,297 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 buying an additional 324,958 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Northern Oil and Gas by 55.9% during the 3rd quarter. New York State Common Retirement Fund now owns 636,082 shares of the company’s stock worth $25,590,000 after buying an additional 228,009 shares in the last quarter. 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.