Citigroup Lowers Northern Oil and Gas (NYSE:NOG) Price Target to $45.00

Northern Oil and Gas (NYSE:NOG) had its price objective lowered by stock analysts at Citigroup from $55.00 to $45.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 35.15% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Truist Financial upped their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Capital One Financial cut shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday. Royal Bank of Canada dropped their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Morgan Stanley set a $43.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, January 22nd. Finally, Mizuho cut shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.89.

Northern Oil and Gas Price Performance

NYSE:NOG opened at $33.30 on Tuesday. The business’s 50-day moving average is $37.47 and its 200 day moving average is $38.29. Northern Oil and Gas has a 12 month low of $32.81 and a 12 month high of $44.31. The company has a market capitalization of $3.32 billion, a P/E ratio of 6.48 and a beta of 1.81. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.16). The firm had revenue of $545.47 million for the quarter, compared to analysts’ expectations of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. On average, equities research analysts forecast that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now directly owns 96,223 shares in the company, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Northern Oil and Gas

Several hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new stake in Northern Oil and Gas in the fourth quarter worth about $1,128,000. GTS Securities LLC increased its position in Northern Oil and Gas by 238.2% during the 4th quarter. GTS Securities LLC now owns 22,318 shares of the company’s stock valued at $829,000 after purchasing an additional 15,718 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Northern Oil and Gas in the 4th quarter valued at about $1,683,000. Woodline Partners LP bought a new stake in shares of Northern Oil and Gas in the 4th quarter valued at about $997,000. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Northern Oil and Gas in the 4th quarter worth approximately $373,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

About Northern Oil and Gas

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.