Stifel Nicolaus Raises Northern Oil and Gas (NYSE:NOG) Price Target to $55.00

Northern Oil and Gas (NYSE:NOG) had its target price upped by stock analysts at Stifel Nicolaus from $54.00 to $55.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 28.00% from the stock’s current price.

A number of other analysts have also commented on the stock. Bank of America lowered shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price objective for the company. in a research note on Friday, January 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. Citigroup cut their target price on shares of Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley raised their target price on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, Jefferies Financial Group upped their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.30.

Northern Oil and Gas Trading Down 0.3 %

Northern Oil and Gas stock opened at $42.97 on Tuesday. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 4.28 and a beta of 1.86. Northern Oil and Gas has a 1 year low of $29.57 and a 1 year high of $43.64. The firm’s 50 day moving average price is $38.60 and its two-hundred day moving average price is $37.27. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The company had revenue of $543.40 million during the quarter, compared to analyst estimates of $555.31 million. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. On average, research analysts predict that Northern Oil and Gas will post 5.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the sale, the president now owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider James B. Evans sold 3,150 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the transaction, the insider now directly owns 73,753 shares in the company, valued at approximately $3,097,626. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the transaction, the president now directly owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,944 shares of company stock worth $436,614. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Hedge funds have recently modified their holdings of the business. Principal Securities Inc. acquired a new position in Northern Oil and Gas during the 4th quarter valued at $42,000. TFO Wealth Partners LLC raised its stake 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 last quarter. SRS Capital Advisors Inc. raised its stake in 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 valued at $46,000 after purchasing an additional 927 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Northern Oil and Gas in the 3rd quarter valued at $67,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Northern Oil and Gas by 74.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after buying an additional 930 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.