Northern Oil and Gas (NYSE:NOG) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Northern Oil and Gas (NYSE:NOG) from a sell rating to a hold rating in a research note published on Monday.

NOG has been the subject of a number of other reports. Bank of America lowered Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 price target for the company. in a report on Friday, January 5th. Stifel Nicolaus cut their price target on Northern Oil and Gas from $54.00 to $52.00 and set a buy rating for the company in a report on Tuesday, January 23rd. Jefferies Financial Group raised their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a buy rating in a report on Thursday, March 21st. Raymond James cut their price target on Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. Finally, Truist Financial dropped their price objective on Northern Oil and Gas from $56.00 to $55.00 and set a buy rating for the company in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $47.00.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $42.67 on Monday. The stock has a fifty day simple moving average of $38.19 and a two-hundred day simple moving average of $37.20. Northern Oil and Gas has a 1-year low of $29.57 and a 1-year high of $43.64. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 4.25 and a beta of 1.86. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Friday, February 23rd. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The firm had revenue of $543.40 million for the quarter, compared to the consensus estimate of $555.31 million. During the same period last year, the company posted $1.43 earnings per share. Northern Oil and Gas’s revenue for the quarter was up 21.9% on a year-over-year basis. Analysts anticipate that Northern Oil and Gas will post 5.43 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The company 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. The ex-dividend date is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a yield of 3.75%. Northern Oil and Gas’s payout ratio is 15.94%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $40.98, for a total transaction of $153,675.00. Following the sale, the chief executive officer now owns 228,082 shares in the company, valued at $9,346,800.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $40.98, for a total transaction of $153,675.00. Following the sale, the chief executive officer now owns 228,082 shares in the company, valued at $9,346,800.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the transaction, the president now owns 122,359 shares in the company, valued at approximately $4,649,642. The disclosure for this sale can be found here. Insiders have sold 10,944 shares of company stock worth $436,614 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Northern Oil and Gas by 5.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock worth $56,850,000 after buying an additional 77,537 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Northern Oil and Gas in the first quarter worth about $267,000. Doliver Advisors LP increased its holdings in shares of Northern Oil and Gas by 5.6% in the first quarter. Doliver Advisors LP now owns 28,072 shares of the company’s stock worth $1,114,000 after buying an additional 1,490 shares during the period. Range Financial Group LLC increased its holdings in shares of Northern Oil and Gas by 12.6% in the first quarter. Range Financial Group LLC now owns 7,289 shares of the company’s stock worth $289,000 after buying an additional 816 shares during the period. Finally, RFG Advisory LLC increased its holdings in Northern Oil and Gas by 21.0% during the 1st quarter. RFG Advisory LLC now owns 7,439 shares of the company’s stock valued at $295,000 after purchasing an additional 1,291 shares during the period. Hedge funds and other 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.