Northern Oil and Gas (NYSE:NOG) Now Covered by Analysts at William Blair

William Blair assumed coverage on shares of Northern Oil and Gas (NYSE:NOG) in a research report report published on Monday, Marketbeat reports. The firm issued an outperform rating on the stock.

A number of other analysts also recently commented on NOG. Bank of America raised their price objective on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Piper Sandler reiterated a “neutral” rating and set a $25.00 target price (down from $31.00) on shares of Northern Oil and Gas in a report on Monday, August 4th. Royal Bank Of Canada decreased their target price on shares of Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Monday, July 14th. Morgan Stanley cut shares of Northern Oil and Gas from a “positive” rating to an “underweight” rating and reduced their price objective for the stock from $29.00 to $27.00 in a research report on Monday, August 18th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.89.

Northern Oil and Gas Stock Up 1.8%

NOG stock opened at $25.56 on Monday. The firm has a 50 day simple moving average of $27.64 and a 200 day simple moving average of $28.01. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $2.49 billion, a PE ratio of 4.22 and a beta of 1.55. Northern Oil and Gas has a 12 month low of $19.88 and a 12 month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Thursday, July 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $0.87 by $0.50. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.The business had revenue of $706.81 million during the quarter, compared to analysts’ expectations of $555.54 million. During the same quarter last year, the firm posted $1.46 earnings per share. Northern Oil and Gas’s revenue was up 26.0% compared to the same quarter last year. Equities research analysts forecast that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas’s payout ratio is presently 29.70%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mariner LLC grew its holdings in shares of Northern Oil and Gas by 8.6% during the 4th quarter. Mariner LLC now owns 24,746 shares of the company’s stock valued at $920,000 after purchasing an additional 1,950 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Northern Oil and Gas by 9.7% during the fourth quarter. Marshall Wace LLP now owns 9,540 shares of the company’s stock valued at $355,000 after purchasing an additional 840 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Northern Oil and Gas by 4.5% during the fourth quarter. MetLife Investment Management LLC now owns 59,818 shares of the company’s stock valued at $2,223,000 after acquiring an additional 2,581 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Northern Oil and Gas by 187.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,347 shares of the company’s stock worth $87,000 after buying an additional 1,530 shares during the last quarter. Finally, State of Tennessee Department of Treasury lifted its position in Northern Oil and Gas by 16.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 26,892 shares of the company’s stock valued at $999,000 after acquiring an additional 3,805 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

About Northern Oil and Gas

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.