Northern Oil and Gas (NYSE:NOG) Given New $55.00 Price Target at Stifel Nicolaus

Northern Oil and Gas (NYSE:NOG) had its price target raised by Stifel Nicolaus from $54.00 to $55.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also commented on NOG. Morgan Stanley raised their price target 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. Royal Bank of Canada reaffirmed an outperform rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Raymond James dropped their price target on Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating on the stock in a research report on Wednesday, January 24th. Citigroup dropped their price target on Northern Oil and Gas from $50.00 to $45.00 and set a buy rating on the stock in a research report on Wednesday, February 28th. Finally, Bank of America lowered Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 price target on the stock. in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas has an average rating of Moderate Buy and an average price target of $47.30.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $43.25 on Tuesday. The business’s 50-day simple moving average is $38.96 and its 200 day simple moving average is $37.33. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 4.31 and a beta of 1.86. Northern Oil and Gas has a 12-month low of $29.57 and a 12-month high of $43.64. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.90.

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 for the quarter, compared to the consensus estimate of $555.31 million. During the same quarter last year, the business posted $1.43 EPS. Northern Oil and Gas’s quarterly revenue was up 21.9% on a year-over-year basis. As a group, research analysts anticipate that Northern Oil and Gas will post 5.53 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is 15.94%.

Insiders Place Their Bets

In other Northern Oil and Gas news, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the transaction, the insider now owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider James B. Evans sold 945 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the transaction, the insider now directly owns 83,872 shares in the company, valued at approximately $3,187,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James B. Evans sold 3,150 shares of Northern Oil and Gas stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the transaction, the insider now 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 10,944 shares of company stock valued at $436,614 in the last 90 days. 2.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Northern Oil and Gas by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after acquiring an additional 2,827,642 shares during the period. Invesco Ltd. boosted its stake in Northern Oil and Gas by 19.0% in the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock valued at $152,318,000 after purchasing an additional 605,197 shares during the period. American Century Companies Inc. boosted its stake in Northern Oil and Gas by 27.0% in the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock valued at $103,085,000 after purchasing an additional 545,297 shares during the period. Westfield Capital Management Co. LP boosted its stake in Northern Oil and Gas by 9.3% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock valued at $57,003,000 after purchasing an additional 131,448 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Northern Oil and Gas by 13.8% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,445,517 shares of the company’s stock valued at $58,153,000 after purchasing an additional 175,000 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.