Northern Oil and Gas (NYSEAMERICAN:NOG – Get Rating) had its price target hoisted by equities research analysts at Truist Financial from $52.00 to $58.00 in a research report issued to clients and investors on Monday, The Fly reports. Truist Financial’s price target would indicate a potential upside of 56.67% from the stock’s previous close.
NOG has been the subject of several other research reports. Raymond James raised their price target on Northern Oil and Gas from $48.00 to $55.00 in a report on Thursday. Wells Fargo & Company downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating and set a $34.00 price target for the company. in a report on Monday, March 14th. They noted that the move was a valuation call. Citigroup raised their price target on Northern Oil and Gas from $31.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, April 26th. Bank of America downgraded Northern Oil and Gas from a “buy” rating to a “neutral” rating and raised their price target for the company from $33.00 to $38.00 in a report on Tuesday, March 8th. Finally, Royal Bank of Canada boosted 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 report on Tuesday, March 1st. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $41.10.
Shares of NOG stock opened at $37.02 on Monday. The stock has a market capitalization of $2.86 billion, a P/E ratio of -36.29, a PEG ratio of 0.51 and a beta of 2.25. Northern Oil and Gas has a 12 month low of $14.03 and a 12 month high of $39.10. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.66 and a quick ratio of 0.66.
Northern Oil and Gas (NYSEAMERICAN:NOG – Get Rating) last posted its earnings results on Thursday, May 5th. The energy company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.31. Northern Oil and Gas had a negative return on equity of 351.74% and a net margin of 1.28%. During the same quarter last year, the company posted $0.62 earnings per share. Equities analysts anticipate that Northern Oil and Gas will post 5.76 earnings per share for the current fiscal year.
In related news, Director Lisa Meier sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $25.88, for a total transaction of $323,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Robert B. Rowling sold 400,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $33.26, for a total transaction of $13,304,000.00. Following the transaction, the insider now owns 8,563,719 shares of the company’s stock, valued at $284,829,293.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 543,360 shares of company stock valued at $17,886,479. 4.40% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its position in Northern Oil and Gas by 6.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 267,273 shares of the energy company’s stock valued at $5,500,000 after acquiring an additional 15,545 shares during the period. Invesco Ltd. boosted its stake in Northern Oil and Gas by 30.2% during the fourth quarter. Invesco Ltd. now owns 2,213,679 shares of the energy company’s stock worth $45,557,000 after acquiring an additional 513,002 shares in the last quarter. Hodges Capital Management Inc. bought a new position in Northern Oil and Gas during the fourth quarter worth $283,000. New York State Common Retirement Fund boosted its stake in Northern Oil and Gas by 430.4% during the fourth quarter. New York State Common Retirement Fund now owns 415,191 shares of the energy company’s stock worth $8,545,000 after acquiring an additional 336,917 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in shares of Northern Oil and Gas by 103.9% during the fourth quarter. Rafferty Asset Management LLC now owns 205,789 shares of the energy company’s stock valued at $4,235,000 after buying an additional 104,850 shares during the last quarter. Institutional investors and hedge funds own 88.47% of the company’s stock.
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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