Northern Oil and Gas (NYSEAMERICAN:NOG – Get Rating) had its target price hoisted by investment analysts at Piper Sandler from $43.00 to $51.00 in a report issued on Thursday, The Fly reports. Piper Sandler’s price objective suggests a potential upside of 40.61% from the company’s previous close.
NOG has been the subject of several other research reports. Wells Fargo & Company downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating and set a $34.00 target price for the company. in a research note on Monday, March 14th. They noted that the move was a valuation call. Royal Bank of Canada upped their target price on shares of Northern Oil and Gas from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, March 1st. Johnson Rice raised shares of Northern Oil and Gas from an “accumulate” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, March 15th. Raymond James upped their price target on shares of Northern Oil and Gas from $45.00 to $48.00 and gave the company a “strong-buy” rating in a report on Monday, April 25th. Finally, Truist Financial upped their price target on shares of Northern Oil and Gas from $45.00 to $50.00 in a report on Thursday, April 21st. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Northern Oil and Gas currently has an average rating of “Buy” and an average target price of $37.91.
NOG opened at $36.27 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 3.73. The company has a market cap of $2.81 billion, a P/E ratio of -35.56, a price-to-earnings-growth ratio of 0.51 and a beta of 2.25. Northern Oil and Gas has a fifty-two week low of $14.03 and a fifty-two week high of $39.10.
Northern Oil and Gas (NYSEAMERICAN:NOG – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The energy company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.31. Northern Oil and Gas had a net margin of 1.28% and a negative return on equity of 351.74%. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, equities research analysts anticipate that Northern Oil and Gas will post 5.76 earnings per share for the current fiscal year.
In other news, Director Lisa Meier sold 12,500 shares of the stock in a transaction dated Thursday, March 17th. The shares were sold at an average price of $25.88, for a total value of $323,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Robert B. Rowling sold 400,000 shares of the stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $33.26, for a total transaction of $13,304,000.00. Following the completion of the transaction, the insider now directly owns 8,563,719 shares in the company, valued at $284,829,293.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 543,360 shares of company stock valued at $17,886,479. Corporate insiders own 4.40% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. TCI Wealth Advisors Inc. bought a new position in Northern Oil and Gas during the first quarter worth about $29,000. Dark Forest Capital Management LP bought a new position in Northern Oil and Gas during the third quarter worth about $44,000. Federated Hermes Inc. increased its position in Northern Oil and Gas by 104.4% during the first quarter. Federated Hermes Inc. now owns 4,540 shares of the energy company’s stock worth $128,000 after acquiring an additional 2,319 shares during the period. Point72 Hong Kong Ltd bought a new position in Northern Oil and Gas during the first quarter worth about $128,000. Finally, Ameritas Investment Partners Inc. increased its position in Northern Oil and Gas by 26.4% during the first quarter. Ameritas Investment Partners Inc. now owns 4,741 shares of the energy company’s stock worth $134,000 after acquiring an additional 990 shares during the period. 88.47% of the stock is currently owned by institutional investors.
Northern Oil and Gas Company Profile (Get Rating)
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. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.
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