Northern Oil and Gas (NYSE:NOG) Given New $27.00 Price Target at Piper Sandler

Northern Oil and Gas (NYSE:NOG) had its price objective increased by Piper Sandler from $25.00 to $27.00 in a research report sent to investors on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other equities analysts also recently commented on the stock. Mizuho set a $29.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, January 21st. Royal Bank Of Canada decreased their price target on shares of Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Thursday, January 22nd. Finally, Morgan Stanley set a $24.00 price objective on Northern Oil and Gas and gave the stock an “underweight” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Northern Oil and Gas has a consensus rating of “Hold” and a consensus price target of $29.57.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $28.41 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.13. The business’s 50 day moving average price is $24.39 and its two-hundred day moving average price is $23.81. The company has a market cap of $2.76 billion, a PE ratio of 86.09 and a beta of 0.96. Northern Oil and Gas has a twelve month low of $19.88 and a twelve month high of $32.62.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Wednesday, February 25th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.71 by $0.12. Northern Oil and Gas had a return on equity of 19.74% and a net margin of 1.57%.The company had revenue of $610.18 million during the quarter, compared to the consensus estimate of $524.98 million. During the same period in the previous year, the company posted $1.11 EPS. The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. On average, analysts predict that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, March 30th will be paid a $0.45 dividend. The ex-dividend date is Monday, March 30th. This represents a $1.80 annualized dividend and a yield of 6.3%. Northern Oil and Gas’s payout ratio is 545.45%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. DLD Asset Management LP raised its position in shares of Northern Oil and Gas by 42.9% in the second quarter. DLD Asset Management LP now owns 25,000,000 shares of the company’s stock valued at $708,750,000 after buying an additional 7,500,000 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in Northern Oil and Gas during the 4th quarter worth $25,492,000. Tributary Capital Management LLC raised its holdings in Northern Oil and Gas by 146.3% in the 3rd quarter. Tributary Capital Management LLC now owns 1,312,256 shares of the company’s stock valued at $32,544,000 after acquiring an additional 779,492 shares in the last quarter. Bridgeway Capital Management LLC bought a new stake in shares of Northern Oil and Gas during the 3rd quarter valued at $11,295,000. Finally, SG Americas Securities LLC lifted its position in shares of Northern Oil and Gas by 499.9% during the 4th quarter. SG Americas Securities LLC now owns 421,809 shares of the company’s stock valued at $9,056,000 after acquiring an additional 351,490 shares during the period. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.