Truist Financial Lowers Northern Oil and Gas (NYSE:NOG) Price Target to $55.00

Northern Oil and Gas (NYSE:NOG) had its target price lowered by analysts at Truist Financial from $56.00 to $55.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 32.59% from the stock’s current price.

A number of other research analysts have also weighed in on NOG. Citigroup reduced their price objective on shares of Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th. Stifel Nicolaus reduced their price objective on shares of Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Royal Bank of Canada restated an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Jefferies Financial Group boosted their price target on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Raymond James reduced their price target on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Two analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.30.

Northern Oil and Gas Trading Up 1.8 %

Shares of NOG stock opened at $41.48 on Friday. The company has a 50 day moving average of $36.11 and a 200-day moving average of $36.98. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. Northern Oil and Gas has a 12-month low of $29.57 and a 12-month high of $43.64. The firm has a market cap of $4.21 billion, a P/E ratio of 4.13 and a beta of 1.86.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The company had revenue of $543.40 million for the quarter, compared to analysts’ expectations of $555.31 million. During the same quarter in the previous year, the business earned $1.43 EPS. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. Sell-side analysts anticipate that Northern Oil and Gas will post 5.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $35.63, for a total transaction of $133,612.50. Following the completion of the transaction, the chief executive officer now directly owns 220,825 shares of the company’s stock, valued at $7,867,994.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $35.63, for a total transaction of $133,612.50. Following the completion of the transaction, the chief executive officer now directly owns 220,825 shares of the company’s stock, valued at $7,867,994.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James B. Evans sold 945 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the transaction, the insider now directly owns 83,872 shares of the company’s stock, valued at $3,187,136. The disclosure for this sale can be found here. Insiders sold 11,544 shares of company stock valued at $437,927 over the last three months. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently modified their holdings of NOG. Captrust Financial Advisors increased its position in shares of Northern Oil and Gas by 1,349.4% during the second quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock valued at $29,000 after buying an additional 1,066 shares during the period. Quarry LP purchased a new stake in Northern Oil and Gas in the second quarter worth about $31,000. Principal Securities Inc. purchased a new stake in Northern Oil and Gas in the fourth quarter worth about $42,000. TFO Wealth Partners LLC grew its holdings in Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after purchasing an additional 1,121 shares during the period. Finally, SRS Capital Advisors Inc. grew its holdings in Northern Oil and Gas by 305.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after purchasing an additional 927 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

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.