Northern Oil and Gas (NYSE:NOG) Price Target Cut to $35.00 by Analysts at Piper Sandler

Northern Oil and Gas (NYSE:NOG - Free Report) had its price target lowered by Piper Sandler from $37.00 to $35.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

NOG has been the subject of several other research reports. 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 price objective for the company. Truist Financial raised their price target on shares of 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 reiterated a "sector perform" rating and set a $45.00 target price on shares of Northern Oil and Gas in a research report on Friday, January 10th. Finally, Mizuho downgraded 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $47.56.

Northern Oil and Gas Stock Up 0.9 %

Shares of NOG traded up $0.34 during mid-day trading on Wednesday, hitting $37.78. 1,016,510 shares of the company's stock were exchanged, compared to its average volume of 1,412,445. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $44.31. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 4.54 and a beta of 1.85. The stock's 50-day moving average is $39.80 and its 200-day moving average is $38.83.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.20. The firm had revenue of $753.64 million during the quarter, compared to analysts' expectations of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The firm's revenue was up 140.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.73 earnings per share. On average, sell-side analysts anticipate that Northern Oil and Gas will post 5.34 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio is 20.17%.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now directly owns 96,223 shares in the company, valued at $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 1,836 shares of company stock valued at $72,869. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northern Oil and Gas

A number of large investors have recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in Northern Oil and Gas during the 3rd quarter worth $25,000. Signaturefd LLC boosted its stake in Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company's stock valued at $30,000 after purchasing an additional 427 shares during the last quarter. Quarry LP raised its position in Northern Oil and Gas by 338.8% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company's stock valued at $42,000 after buying an additional 874 shares during the last quarter. Blue Trust Inc. boosted its holdings in 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 grew its stake in Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock valued at $51,000 after purchasing an additional 259 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.