Royal Bank of Canada Lowers Northern Oil and Gas (NYSE:NOG) Price Target to $40.00

Northern Oil and Gas (NYSE:NOG) had its price target reduced by investment analysts at Royal Bank of Canada from $45.00 to $40.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 13.91% from the company’s previous close.

NOG has been the subject of a number of other reports. Truist Financial increased their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler cut their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $47.00.

Northern Oil and Gas Trading Up 1.8 %

Shares of NOG opened at $35.12 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. Northern Oil and Gas has a 1 year low of $33.05 and a 1 year high of $44.31. The company has a 50 day simple moving average of $38.17 and a two-hundred day simple moving average of $38.49. The firm has a market cap of $3.51 billion, a P/E ratio of 4.22 and a beta of 1.81.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction 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 completion of the transaction, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NOG. Legacy Investment Solutions LLC purchased a new position in Northern Oil and Gas during the third quarter worth $25,000. Headlands Technologies LLC purchased a new position in Northern Oil and Gas during the fourth quarter worth $29,000. Signaturefd LLC boosted its stake 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 buying an additional 427 shares during the period. Blue Trust Inc. lifted its position in shares of Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after purchasing an additional 801 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after purchasing an additional 259 shares during 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.