Piper Sandler Issues Pessimistic Forecast for Northern Oil and Gas (NYSE:NOG) Stock Price

Northern Oil and Gas (NYSE:NOG) had its price target dropped by Piper Sandler from $41.00 to $37.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s target price points to a potential upside of 0.52% from the company’s current price.

A number of other equities research analysts also recently commented on the company. Morgan Stanley dropped their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Royal Bank of Canada cut Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. Truist Financial lifted their price objective on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. Finally, Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.20.

Northern Oil and Gas Stock Down 4.4 %

Shares of NYSE NOG opened at $36.81 on Tuesday. Northern Oil and Gas has a 1 year low of $31.13 and a 1 year high of $44.31. The firm’s 50-day moving average is $39.84 and its 200-day moving average is $38.72. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $3.67 billion, a PE ratio of 4.42 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The firm had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same period last year, the firm earned $1.73 earnings per share. Equities analysts expect that Northern Oil and Gas will post 5.4 EPS for the current year.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the sale, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. The trade was a 2.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Chad W. Allen sold 1,500 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now directly owns 83,792 shares in the company, valued at $3,351,680. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,508 shares of company stock worth $248,113. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Northern Oil and Gas by 4.6% in the third quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock valued at $80,884,000 after buying an additional 100,761 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Northern Oil and Gas by 21.0% in the third quarter. Public Employees Retirement System of Ohio now owns 100,140 shares of the company’s stock valued at $3,546,000 after acquiring an additional 17,383 shares during the last quarter. Hodges Capital Management Inc. grew its position in shares of Northern Oil and Gas by 4.9% in the 3rd quarter. Hodges Capital Management Inc. now owns 44,580 shares of the company’s stock valued at $1,579,000 after acquiring an additional 2,100 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of Northern Oil and Gas during the 3rd quarter worth about $25,000. Finally, Stifel Financial Corp increased its stake in shares of Northern Oil and Gas by 7.6% during the 3rd quarter. Stifel Financial Corp now owns 87,254 shares of the company’s stock worth $3,090,000 after purchasing an additional 6,168 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

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.