Brokerages Set Northern Oil and Gas, Inc. (NYSE:NOG) Price Target at $47.40

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $47.90.

Several equities analysts recently weighed in on NOG shares. StockNews.com raised Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Thursday. Stifel Nicolaus increased their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. Piper Sandler increased their price target on shares of Northern Oil and Gas from $38.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Finally, Morgan Stanley raised their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th.

Insiders Place Their Bets

In related news, insider James B. Evans sold 945 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the transaction, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider James B. Evans sold 3,150 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the sale, the insider now directly owns 73,753 shares in the company, valued at approximately $3,097,626. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider James B. Evans sold 945 shares of Northern Oil and Gas stock in a transaction on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the transaction, the insider now owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The disclosure for this sale can be found here. Insiders sold a total of 10,944 shares of company stock worth $436,614 over the last quarter. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

Hedge funds and other institutional investors have recently made changes to their positions in the business. Easterly Investment Partners LLC lifted its position in Northern Oil and Gas by 2.2% during the 1st quarter. Easterly Investment Partners LLC now owns 50,521 shares of the company’s stock worth $2,005,000 after buying an additional 1,094 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Northern Oil and Gas in the first quarter worth about $7,780,000. Capstone Investment Advisors LLC grew its stake in shares of Northern Oil and Gas by 8,679.3% during the first quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock valued at $20,355,000 after purchasing an additional 507,129 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Northern Oil and Gas by 17.0% in the first quarter. Janney Montgomery Scott LLC now owns 9,992 shares of the company’s stock valued at $396,000 after purchasing an additional 1,453 shares in the last quarter. Finally, Hartline Investment Corp bought a new position in Northern Oil and Gas in the 1st quarter worth approximately $894,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Up 0.7 %

Shares of NOG stock opened at $40.25 on Thursday. Northern Oil and Gas has a 12 month low of $29.57 and a 12 month high of $43.75. The company has a market cap of $4.07 billion, a PE ratio of 6.52 and a beta of 1.84. The company has a quick ratio of 1.32, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The business’s 50 day moving average is $39.61 and its two-hundred day moving average is $37.34.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.10. The business had revenue of $396.35 million during the quarter, compared to the consensus estimate of $505.67 million. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. Northern Oil and Gas’s quarterly revenue was down 31.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.76 EPS. Equities analysts predict that Northern Oil and Gas will post 5.46 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, June 27th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a yield of 3.98%. Northern Oil and Gas’s payout ratio is currently 25.93%.

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.