Piper Sandler Forecasts Strong Price Appreciation for Northern Oil and Gas (NYSE:NOG) Stock

Northern Oil and Gas (NYSE:NOG - Get Free Report) had its price objective lifted by analysts at Piper Sandler from $40.00 to $41.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Piper Sandler's price objective indicates a potential downside of 0.61% from the company's current price.

Other research analysts also recently issued research reports about the company. Morgan Stanley reduced their price target 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. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They set a "buy" rating and a $53.00 target price for the company. Mizuho began coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They issued an "outperform" rating and a $47.00 price target for the company. Truist Financial increased their price objective on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, StockNews.com lowered shares of Northern Oil and Gas from a "hold" rating to a "sell" rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Northern Oil and Gas has an average rating of "Moderate Buy" and an average target price of $47.60.

Northern Oil and Gas Stock Up 1.9 %

NYSE:NOG traded up $0.75 during trading hours on Monday, hitting $41.25. The stock had a trading volume of 1,103,089 shares, compared to its average volume of 1,321,120. The company has a market cap of $4.12 billion, a PE ratio of 4.96 and a beta of 1.80. The business has a 50 day simple moving average of $37.51 and a two-hundred day simple moving average of $38.49. Northern Oil and Gas has a 1-year low of $31.13 and a 1-year high of $43.80. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. During the same period last year, the business earned $1.73 EPS. The business's revenue was up 140.0% on a year-over-year basis. Analysts predict that Northern Oil and Gas will post 5.38 EPS for the current year.

Insider Transactions at Northern Oil and Gas

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

Hedge Funds Weigh In On Northern Oil and Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new position in Northern Oil and Gas during the 3rd quarter worth $25,000. Signaturefd LLC lifted its holdings in Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company's stock worth $30,000 after purchasing an additional 427 shares during the period. GAMMA Investing LLC lifted its holdings in Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company's stock worth $41,000 after purchasing an additional 528 shares during the period. Quarry LP grew 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 in the last quarter. Finally, Covestor Ltd increased its stake in Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company's stock valued at $67,000 after buying an additional 1,048 shares during the period. 98.80% of the stock is owned by 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.