Northern Oil and Gas, Inc. (NYSE:NOG) Given Consensus Rating of “Moderate Buy” by Analysts

Northern Oil and Gas, Inc. (NYSE:NOGGet Rating) has been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $48.30.

Several research firms have issued reports on NOG. StockNews.com upgraded Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Tuesday. Piper Sandler increased their price objective on Northern Oil and Gas from $51.00 to $59.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 18th. Bank of America increased their price objective on Northern Oil and Gas from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, September 19th. Truist Financial increased their price objective on Northern Oil and Gas from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, October 13th. Finally, Jefferies Financial Group began coverage on Northern Oil and Gas in a research report on Wednesday, October 19th. They issued a “buy” rating and a $37.00 price objective for the company.

Insider Activity at Northern Oil and Gas

In related news, major shareholder Robert B. Rowling sold 261,000 shares of the stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $37.45, for a total transaction of $9,774,450.00. Following the transaction, the insider now directly owns 8,002,719 shares in the company, valued at $299,701,826.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Robert B. Rowling sold 261,000 shares of the firm’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $37.45, for a total value of $9,774,450.00. Following the transaction, the insider now directly owns 8,002,719 shares in the company, valued at approximately $299,701,826.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Robert B. Rowling sold 9,132 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $38.38, for a total value of $350,486.16. Following the completion of the transaction, the insider now owns 7,994 shares in the company, valued at $306,809.72. The disclosure for this sale can be found here. Insiders have sold a total of 358,372 shares of company stock valued at $13,428,038 over the last quarter. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

A number of large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in shares of Northern Oil and Gas by 42.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 996 shares of the company’s stock valued at $34,000 after buying an additional 296 shares during the period. American International Group Inc. grew its stake in Northern Oil and Gas by 1.2% during the 2nd quarter. American International Group Inc. now owns 30,704 shares of the company’s stock valued at $776,000 after purchasing an additional 354 shares in the last quarter. CWM LLC grew its stake in Northern Oil and Gas by 46.3% during the 3rd quarter. CWM LLC now owns 1,132 shares of the company’s stock valued at $31,000 after purchasing an additional 358 shares in the last quarter. Sawtooth Solutions LLC grew its stake in Northern Oil and Gas by 2.8% during the 2nd quarter. Sawtooth Solutions LLC now owns 15,543 shares of the company’s stock valued at $393,000 after purchasing an additional 420 shares in the last quarter. Finally, Amalgamated Bank grew its stake in Northern Oil and Gas by 4.2% during the 3rd quarter. Amalgamated Bank now owns 10,474 shares of the company’s stock valued at $287,000 after purchasing an additional 421 shares in the last quarter. 78.72% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $35.89 on Thursday. Northern Oil and Gas has a 12 month low of $17.51 and a 12 month high of $39.10. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50 day simple moving average of $32.89 and a 200-day simple moving average of $30.49. The stock has a market capitalization of $2.79 billion, a PE ratio of 4.12, a price-to-earnings-growth ratio of 0.41 and a beta of 2.11.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Thursday, December 29th will be issued a $0.30 dividend. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.20 annualized dividend and a yield of 3.34%. Northern Oil and Gas’s dividend payout ratio is 11.47%.

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.

Further Reading

Analyst Recommendations for Northern Oil and Gas (NYSE:NOG)

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