Northern Oil and Gas (NYSE:NOG) Stock Price Expected to Rise, Truist Financial Analyst Says

Northern Oil and Gas (NYSE:NOG - Free Report) had its target price increased by Truist Financial from $51.00 to $52.00 in a report released on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Royal Bank of Canada lowered Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and boosted their price objective for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th. Jefferies Financial Group started coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a "buy" rating and a $53.00 price target for the company. Piper Sandler lifted their price objective on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the stock a "neutral" rating in a report on Monday, November 18th. Mizuho started coverage on shares of Northern Oil and Gas in a report on Thursday, September 19th. They issued an "outperform" rating and a $47.00 target price for the company. Finally, Morgan Stanley dropped their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating on the stock in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $47.60.

Northern Oil and Gas Stock Down 1.2 %

Shares of NOG traded down $0.50 during trading hours on Friday, reaching $40.71. The stock had a trading volume of 1,047,075 shares, compared to its average volume of 1,302,577. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 4.89 and a beta of 1.85. The firm has a 50-day simple moving average of $39.92 and a 200 day simple moving average of $38.78. 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 has a 12 month low of $31.13 and a 12 month high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) 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 firm had revenue of $753.64 million during the quarter, compared to analysts' expectations of $540.23 million. During the same period last year, the company earned $1.73 earnings per share. The business's revenue was up 140.0% on a year-over-year basis. Equities research analysts predict that Northern Oil and Gas will post 5.4 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a $0.42 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.13%. Northern Oil and Gas's dividend payout ratio (DPR) is presently 20.17%.

Insider Activity at Northern Oil and Gas

In related news, insider Erik J. Romslo sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the transaction, the insider now directly owns 105,713 shares of the company's stock, valued at approximately $3,727,440.38. This trade represents a 1.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction that occurred on 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 of the company's stock, valued at $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,508 shares of company stock worth $248,113. Insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On Northern Oil and Gas

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in Northern Oil and Gas by 45.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company's stock worth $93,744,000 after purchasing an additional 789,985 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company's stock worth $206,905,000 after buying an additional 552,645 shares in the last quarter. abrdn plc purchased a new stake in shares of Northern Oil and Gas in the third quarter worth about $17,096,000. Bridgewater Associates LP boosted its position in shares of Northern Oil and Gas by 135.6% in the third quarter. Bridgewater Associates LP now owns 511,170 shares of the company's stock valued at $18,101,000 after acquiring an additional 294,223 shares during the period. Finally, New York State Common Retirement Fund grew its stake in Northern Oil and Gas by 41.4% during the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company's stock valued at $33,320,000 after acquiring an additional 275,704 shares in the last quarter. 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.