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

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

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

Northern Oil and Gas Price Performance

NOG opened at $33.30 on Tuesday. The firm has a market capitalization of $3.32 billion, a PE ratio of 6.48 and a beta of 1.81. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The business’s 50-day moving average is $37.47 and its two-hundred day moving average is $38.29. Northern Oil and Gas has a 1 year low of $32.81 and a 1 year high of $44.31.

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 analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The firm had revenue of $545.47 million during the quarter, compared to analysts’ expectations of $552.34 million. Research analysts anticipate that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the sale, the president now owns 96,223 shares of the company’s stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

Hedge funds have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Northern Oil and Gas during the 3rd quarter worth about $25,000. Headlands Technologies LLC acquired a new position in Northern Oil and Gas in the 4th quarter worth about $29,000. Signaturefd LLC boosted its position in Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after purchasing an additional 427 shares in the last quarter. Blue Trust Inc. grew its holdings in Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after purchasing an additional 801 shares during the period. Finally, Avior Wealth Management LLC increased its position in shares of Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after buying an additional 259 shares in the last quarter. 98.80% of the stock is 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.