Royal Bank of Canada Cuts Northern Oil and Gas (NYSE:NOG) Price Target to $40.00

Northern Oil and Gas (NYSE:NOG) had its price target reduced by Royal Bank of Canada from $45.00 to $40.00 in a report published on Thursday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other analysts also recently commented on the company. Piper Sandler decreased their target price on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Truist Financial upped their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $47.00.

Northern Oil and Gas Trading Up 1.8 %

NOG opened at $35.12 on Thursday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 4.22 and a beta of 1.81. Northern Oil and Gas has a 52 week low of $33.05 and a 52 week high of $44.31. The business’s 50 day moving average is $38.07 and its two-hundred day moving average is $38.44. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio (DPR) is 20.17%.

Insider Transactions at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

A number of hedge funds and other institutional investors have recently modified their holdings of NOG. Icon Wealth Advisors LLC acquired a new position in shares of Northern Oil and Gas in the 3rd quarter worth $828,000. State of Alaska Department of Revenue grew its holdings in shares of Northern Oil and Gas by 36.1% in the 4th quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company’s stock worth $2,877,000 after acquiring an additional 20,550 shares during the last quarter. Heritage Family Offices LLP acquired a new position in shares of Northern Oil and Gas in the 4th quarter worth $244,000. Tributary Capital Management LLC grew its holdings in shares of Northern Oil and Gas by 11.8% in the 4th quarter. Tributary Capital Management LLC now owns 588,487 shares of the company’s stock worth $21,868,000 after acquiring an additional 62,300 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Northern Oil and Gas by 21.0% in the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after acquiring an additional 368 shares during 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.