Northern Oil and Gas (NYSE:NOG) Given New $41.00 Price Target at Morgan Stanley

Northern Oil and Gas (NYSE:NOG) had its price target lifted by Morgan Stanley from $38.00 to $41.00 in a report published on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also recently commented on the company. Piper Sandler cut their price target on Northern Oil and Gas from $39.00 to $38.00 and set a neutral rating for the company in a report on Friday, February 16th. Citigroup reduced their target price on Northern Oil and Gas from $50.00 to $45.00 and set a buy rating for the company in a research report on Wednesday, February 28th. Royal Bank of Canada reissued an outperform rating and issued a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Stifel Nicolaus reduced their price objective on shares of Northern Oil and Gas from $54.00 to $52.00 and set a buy rating for the company in a report on Tuesday, January 23rd. Finally, Jefferies Financial Group upped their target price on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a buy rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $46.60.

Northern Oil and Gas Trading Down 0.7 %

Shares of Northern Oil and Gas stock opened at $42.35 on Monday. Northern Oil and Gas has a 1 year low of $29.57 and a 1 year high of $43.64. The company’s fifty day simple moving average is $37.19 and its 200-day simple moving average is $37.07. The company has a market cap of $4.28 billion, a price-to-earnings ratio of 4.22 and a beta of 1.86. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.03). The company had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.43 earnings per share. As a group, sell-side analysts expect that Northern Oil and Gas will post 5.41 EPS for the current year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 15.94%.

Insider Buying and Selling

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the completion of the transaction, the chief executive officer now owns 228,082 shares in the company, valued at approximately $9,346,800.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $40.98, for a total transaction of $153,675.00. Following the sale, the chief executive officer now owns 228,082 shares of the company’s stock, valued at approximately $9,346,800.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the transaction, the insider now directly owns 73,753 shares of the company’s stock, valued at $3,097,626. The disclosure for this sale can be found here. Insiders have sold a total of 10,944 shares of company stock worth $436,614 in the last three months. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NOG. Quarry LP bought a new position in Northern Oil and Gas in the second quarter valued at about $31,000. TFO Wealth Partners LLC lifted its position in Northern Oil and Gas by 112,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after purchasing an additional 1,121 shares during the period. Principal Securities Inc. bought a new position in shares of Northern Oil and Gas in the 4th quarter valued at about $42,000. Captrust Financial Advisors grew its position in shares of Northern Oil and Gas by 1,349.4% during the 2nd quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock worth $29,000 after buying an additional 1,066 shares during the period. Finally, SRS Capital Advisors Inc. grew its position in shares of Northern Oil and Gas by 305.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after buying an additional 927 shares during the period. 98.80% of the stock is currently 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.