Northern Oil and Gas (NYSEAMERICAN:NOG) Shares Gap Down to $31.18

Shares of Northern Oil and Gas, Inc. (NYSEAMERICAN:NOGGet Rating) gapped down prior to trading on Wednesday . The stock had previously closed at $31.18, but opened at $30.09. Northern Oil and Gas shares last traded at $29.35, with a volume of 1,847 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on NOG. Wells Fargo & Company reduced their price target on shares of Northern Oil and Gas from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday, July 11th. TheStreet upgraded shares of Northern Oil and Gas from a “d” rating to a “b-” rating in a research report on Wednesday, August 3rd. Truist Financial boosted their price objective on shares of Northern Oil and Gas from $52.00 to $58.00 in a research note on Monday, June 13th. Raymond James boosted their price objective on shares of Northern Oil and Gas from $50.00 to $55.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 18th. Finally, Piper Sandler dropped their price objective on shares of Northern Oil and Gas from $51.00 to $49.00 in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Northern Oil and Gas has a consensus rating of “Moderate Buy” and a consensus target price of $42.56.

Northern Oil and Gas Stock Up 1.5 %

The firm has a market cap of $2.36 billion, a PE ratio of -29.32, a PEG ratio of 0.51 and a beta of 2.25. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 3.73.

Northern Oil and Gas (NYSEAMERICAN:NOGGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The energy company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.15. The business had revenue of $549.64 million for the quarter, compared to analyst estimates of $410.05 million. Northern Oil and Gas had a net margin of 1.28% and a negative return on equity of 351.74%. During the same period in the prior year, the firm posted $0.92 EPS. As a group, equities research analysts predict that Northern Oil and Gas, Inc. will post 5.76 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, September 29th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Wednesday, September 28th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.19. Northern Oil and Gas’s dividend payout ratio is -74.51%.

Institutional Trading of Northern Oil and Gas

Institutional investors and hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC acquired a new stake in Northern Oil and Gas during the 2nd quarter worth approximately $25,000. TCI Wealth Advisors Inc. acquired a new stake in Northern Oil and Gas in the first quarter valued at approximately $29,000. Captrust Financial Advisors grew its position in Northern Oil and Gas by 1,349.4% in the second quarter. Captrust Financial Advisors now owns 1,145 shares of the energy company’s stock valued at $29,000 after acquiring an additional 1,066 shares in the last quarter. Heritage Wealth Management LLC acquired a new stake in Northern Oil and Gas in the second quarter valued at approximately $97,000. Finally, Federated Hermes Inc. grew its position in Northern Oil and Gas by 104.4% in the first quarter. Federated Hermes Inc. now owns 4,540 shares of the energy company’s stock valued at $128,000 after acquiring an additional 2,319 shares in the last quarter. Institutional investors and hedge funds own 88.47% of the company’s stock.

Northern Oil and Gas Company Profile

(Get Rating)

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. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.

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