Northern Oil and Gas (NYSE:NOG) Price Target Lowered to $44.00 at Truist Financial

Northern Oil and Gas (NYSE:NOG) had its price target decreased by Truist Financial from $55.00 to $44.00 in a research report released on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley cut their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an equal weight rating on the stock in a report on Monday, September 16th. Mizuho started coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They set an outperform rating and a $47.00 target price for the company. Bank of America raised their target price on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Piper Sandler lowered their target price on Northern Oil and Gas from $45.00 to $40.00 and set a neutral rating for the company in a research report on Thursday, August 15th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $46.60.

Northern Oil and Gas Trading Up 0.7 %

NYSE NOG opened at $35.40 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91. Northern Oil and Gas has a twelve month low of $31.13 and a twelve month high of $43.80. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 5.74 and a beta of 1.81. The business’s fifty day moving average is $37.85 and its 200 day moving average is $39.12.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The company had revenue of $560.80 million for the quarter, compared to the consensus estimate of $542.28 million. During the same quarter last year, the business posted $1.49 EPS. Northern Oil and Gas’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, sell-side analysts expect that Northern Oil and Gas will post 5.29 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 4.75%. Northern Oil and Gas’s dividend payout ratio (DPR) is 27.23%.

Insider Transactions at Northern Oil and Gas

In other news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the transaction, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOG. Franklin Resources Inc. increased its position in Northern Oil and Gas by 11.5% in the 4th quarter. Franklin Resources Inc. now owns 25,898 shares of the company’s stock valued at $960,000 after buying an additional 2,680 shares in the last quarter. US Bancorp DE increased its position in Northern Oil and Gas by 37.2% in the 4th quarter. US Bancorp DE now owns 18,741 shares of the company’s stock valued at $695,000 after buying an additional 5,080 shares in the last quarter. Allianz Asset Management GmbH increased its position in Northern Oil and Gas by 5.3% in the 4th quarter. Allianz Asset Management GmbH now owns 104,787 shares of the company’s stock valued at $3,884,000 after buying an additional 5,320 shares in the last quarter. TFO Wealth Partners LLC increased its position in Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after buying an additional 1,121 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in Northern Oil and Gas during the 4th quarter valued at about $217,000. 98.80% of the stock is 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.