Truist Financial Forecasts Strong Price Appreciation for Northern Oil and Gas (NYSE:NOG) Stock

Northern Oil and Gas (NYSE:NOG - Get Free Report) had its target price boosted by stock analysts at Truist Financial from $52.00 to $55.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective would suggest a potential upside of 35.30% from the stock's current price.

Other equities research analysts have also issued reports about the company. Morgan Stanley decreased their price target on 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. Royal Bank of Canada restated a "sector perform" rating and set a $45.00 target price on shares of Northern Oil and Gas in a report on Friday. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a "buy" rating and a $53.00 price target for the company. Mizuho lowered shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price objective on the stock. in a report on Monday, December 16th. Finally, Piper Sandler dropped their target price on shares of Northern Oil and Gas from $41.00 to $37.00 and set a "neutral" rating for the company in a research note on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $47.50.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG traded up $0.69 on Monday, hitting $40.65. The stock had a trading volume of 354,311 shares, compared to its average volume of 994,161. The firm's 50 day moving average price is $39.79 and its 200-day moving average price is $38.68. 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 twelve month low of $31.13 and a twelve month high of $44.31. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 4.88 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.20. The firm had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company's revenue for the quarter was up 140.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.73 earnings per share. On average, equities research analysts predict that Northern Oil and Gas will post 5.4 earnings per share for the current year.

Insider Buying and Selling

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. The trade was 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. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors have recently modified their holdings of the business. Choreo LLC acquired a new position in shares of Northern Oil and Gas in the second quarter valued at approximately $266,000. BOKF NA raised its holdings in shares of Northern Oil and Gas by 87.8% in the second quarter. BOKF NA now owns 12,476 shares of the company's stock valued at $464,000 after purchasing an additional 5,833 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Northern Oil and Gas by 10.1% in the second quarter. Federated Hermes Inc. now owns 111,744 shares of the company's stock worth $4,154,000 after purchasing an additional 10,214 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Northern Oil and Gas by 45.6% during the second 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 during the last quarter. Finally, Quantbot Technologies LP grew its position in Northern Oil and Gas by 27.8% in the second quarter. Quantbot Technologies LP now owns 82,340 shares of the company's stock valued at $3,061,000 after purchasing an additional 17,909 shares in the last quarter. Institutional investors own 98.80% of the company's stock.

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.