Northern Oil and Gas (NYSE:NOG) PT Lowered to $54.00 at Truist Financial

Northern Oil and Gas (NYSE:NOG) had its target price trimmed by Truist Financial from $57.00 to $54.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

NOG has been the topic of several other research reports. Citigroup decreased their price target on Northern Oil and Gas from $55.00 to $50.00 and set a buy rating on the stock in a research note on Friday, May 3rd. Royal Bank of Canada reiterated an outperform rating and set a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. Bank of America boosted their price target on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Morgan Stanley raised their price objective on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Finally, Piper Sandler increased their target price on Northern Oil and Gas from $42.00 to $43.00 and gave the stock a neutral rating in a report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $48.80.

Northern Oil and Gas Stock Up 3.3 %

NOG opened at $39.46 on Monday. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $43.75. The company has a market capitalization of $3.99 billion, a P/E ratio of 6.40 and a beta of 1.79. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s fifty day moving average price is $38.90 and its two-hundred day moving average price is $38.04.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly 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 firm had revenue of $396.35 million during 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%. The company’s quarterly revenue was down 31.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 earnings per share. On average, analysts anticipate that Northern Oil and Gas will post 5.03 EPS for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, June 27th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is 25.93%.

Insider Transactions at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the sale, the chief executive officer now owns 224,332 shares in the company, valued at $8,526,859.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the sale, the chief executive officer now directly owns 224,332 shares in the company, valued at $8,526,859.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.88, for a total value of $52,728.96. Following the completion of the transaction, the president now owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The disclosure for this sale can be found here. Insiders have sold 6,534 shares of company stock worth $252,144 in the last three months. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Several hedge funds have recently bought and sold shares of NOG. GAMMA Investing LLC lifted its stake in shares of Northern Oil and Gas by 91.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after buying an additional 528 shares during the last quarter. Principal Securities Inc. bought a new position in Northern Oil and Gas during the 4th quarter worth $42,000. TFO Wealth Partners LLC lifted its position in shares of Northern Oil and Gas by 112,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after acquiring an additional 1,121 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Northern Oil and Gas by 305.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after purchasing an additional 927 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in Northern Oil and Gas by 74.7% in the fourth 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 in the last quarter. 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.