Northern Oil and Gas (NYSE:NOG) Price Target Lowered to $44.00 at Truist Financial

Northern Oil and Gas (NYSE:NOG) had its price target lowered by research analysts at Truist Financial from $55.00 to $44.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 20.88% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Piper Sandler decreased their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Bank of America lifted their price objective on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley cut their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Mizuho initiated coverage on shares of Northern Oil and Gas in a research report on Thursday, September 19th. They set an “outperform” rating and a $47.00 target price for the company. Finally, StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.60.

Northern Oil and Gas Trading Up 2.8 %

NYSE NOG opened at $36.40 on Monday. Northern Oil and Gas has a 12-month low of $31.13 and a 12-month high of $43.80. The company has a fifty day simple moving average of $37.75 and a two-hundred day simple moving average of $39.11. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The stock has a market cap of $3.68 billion, a P/E ratio of 5.90 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26. The company had revenue of $560.80 million during the quarter, compared to analyst estimates of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $1.49 EPS. On average, analysts forecast that Northern Oil and Gas will post 5.29 earnings per share for the current year.

Insider Activity

In related news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the sale, the chief executive officer now owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors have recently bought and sold shares of NOG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of Northern Oil and Gas by 1.4% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock worth $849,000 after purchasing an additional 320 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after buying an additional 528 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Northern Oil and Gas by 2.2% in the second quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock worth $945,000 after buying an additional 555 shares in the last quarter. Insight Wealth Strategies LLC boosted its position in Northern Oil and Gas by 2.7% during the second quarter. Insight Wealth Strategies LLC now owns 27,197 shares of the company’s stock worth $1,011,000 after acquiring an additional 717 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in Northern Oil and Gas by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 46,000 shares of the company’s stock valued at $1,710,000 after acquiring an additional 800 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.