Piper Sandler Boosts Northern Oil and Gas (NYSE:NOG) Price Target to $31.00

Northern Oil and Gas (NYSE:NOG) had its price target upped by Piper Sandler from $30.00 to $31.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 13.80% from the stock’s current price.

Several other equities research analysts also recently issued reports on NOG. Mizuho dropped their price target on shares of Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday. Morgan Stanley reduced their price target on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th. Royal Bank Of Canada decreased their target price on Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Monday, July 14th. Citigroup boosted their price target on Northern Oil and Gas from $34.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Finally, Bank of America lifted their price objective on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $38.78.

Northern Oil and Gas Price Performance

NOG stock opened at $27.24 on Thursday. The stock’s 50 day moving average price is $29.08 and its 200 day moving average price is $30.45. The firm has a market cap of $2.69 billion, a P/E ratio of 4.24 and a beta of 1.50. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 0.92. Northern Oil and Gas has a 1 year low of $19.88 and a 1 year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.21. The business had revenue of $602.10 million for the quarter, compared to analysts’ expectations of $568.87 million. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The business’s revenue was up 51.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 earnings per share. On average, sell-side analysts expect that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Northern Oil and Gas

Hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue lifted its holdings in Northern Oil and Gas by 25.3% in the 1st quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company’s stock worth $2,932,000 after purchasing an additional 19,586 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Northern Oil and Gas by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 494,508 shares of the company’s stock worth $14,949,000 after acquiring an additional 12,711 shares during the last quarter. Woodline Partners LP bought a new position in Northern Oil and Gas in the 4th quarter worth approximately $997,000. GAMMA Investing LLC lifted its holdings in Northern Oil and Gas by 2,067.5% in the first quarter. GAMMA Investing LLC now owns 45,950 shares of the company’s stock valued at $1,520,000 after buying an additional 43,830 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Northern Oil and Gas by 3.9% in the 4th quarter. American Century Companies Inc. now owns 6,537,596 shares of the company’s stock valued at $242,937,000 after acquiring an additional 243,531 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.