Northern Oil and Gas (NYSE:NOG) Given New $45.00 Price Target at Citigroup

Northern Oil and Gas (NYSE:NOG - Get Free Report) had its target price reduced by investment analysts at Citigroup from $55.00 to $45.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price target would suggest a potential upside of 43.02% from the company's previous close.

Several other research firms have also commented on NOG. Truist Financial upped their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Royal Bank of Canada reduced their price target on Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating for the company in a research report on Thursday, February 13th. Capital One Financial cut Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Piper Sandler reduced their target price 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, Morgan Stanley set a $43.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Northern Oil and Gas has an average rating of "Hold" and an average price target of $46.89.

Northern Oil and Gas Stock Performance

NOG stock traded down $0.45 during trading on Tuesday, reaching $31.47. The stock had a trading volume of 1,914,041 shares, compared to its average volume of 1,483,275. The firm has a market cap of $3.12 billion, a PE ratio of 6.12 and a beta of 1.82. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The stock's 50 day moving average is $37.04 and its two-hundred day moving average is $38.13. Northern Oil and Gas has a 52 week low of $31.16 and a 52 week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted 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 business had revenue of $545.47 million during the quarter, compared to analysts' expectations of $552.34 million. As a group, equities analysts anticipate that Northern Oil and Gas will post 5.18 earnings per share for the current year.

Insider Activity

In related news, President Adam A. Dirlam sold 836 shares of the firm's 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 approximately $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning lifted its position in shares of Northern Oil and Gas by 18.1% in the third quarter. Creative Planning now owns 27,994 shares of the company's stock worth $991,000 after buying an additional 4,282 shares in the last quarter. Signaturefd LLC increased its stake in Northern Oil and Gas by 100.5% in the 3rd quarter. Signaturefd LLC now owns 852 shares of the company's stock worth $30,000 after acquiring an additional 427 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Northern Oil and Gas by 4.8% during the 3rd quarter. Louisiana State Employees Retirement System now owns 48,200 shares of the company's stock worth $1,707,000 after acquiring an additional 2,200 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Northern Oil and Gas by 5.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 56,889 shares of the company's stock valued at $2,014,000 after acquiring an additional 3,154 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of Northern Oil and Gas by 1.5% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,201 shares of the company's stock valued at $822,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 98.80% of the company's stock.

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.