Northern Oil and Gas (NYSE:NOG) Given New $28.00 Price Target at Mizuho

Northern Oil and Gas (NYSE:NOG) had its target price lowered by Mizuho from $32.00 to $28.00 in a research report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the company. William Blair started coverage on Northern Oil and Gas in a research report on Monday, August 25th. They set an “outperform” rating on the stock. Morgan Stanley lowered Northern Oil and Gas from a “positive” rating to an “underweight” rating and reduced their price objective for the company from $29.00 to $27.00 in a research report on Monday, August 18th. Royal Bank Of Canada reduced their price objective on Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Monday, July 14th. Citigroup raised their price target on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Finally, Piper Sandler restated a “neutral” rating and set a $25.00 price target (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Northern Oil and Gas presently has an average rating of “Moderate Buy” and a consensus price target of $36.44.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock opened at $24.95 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $2.44 billion, a PE ratio of 4.12 and a beta of 1.67. The business’s 50-day moving average price is $26.38 and its 200-day moving average price is $27.12. 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 announced its quarterly earnings data on Thursday, July 31st. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $0.87 by $0.50. The firm had revenue of $706.81 million for the quarter, compared to analyst estimates of $555.54 million. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.The company’s revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.46 EPS. Sell-side analysts forecast that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 29.70%.

Institutional Investors Weigh In On Northern Oil and Gas

A number of large investors have recently made changes to their positions in the business. DLD Asset Management LP grew its position in shares of Northern Oil and Gas by 42.9% in the 2nd quarter. DLD Asset Management LP now owns 25,000,000 shares of the company’s stock worth $708,750,000 after buying an additional 7,500,000 shares during the last quarter. American Century Companies Inc. grew its position in shares of Northern Oil and Gas by 6.4% in the 1st quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock worth $210,201,000 after buying an additional 415,781 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Northern Oil and Gas by 30.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company’s stock worth $129,939,000 after buying an additional 1,001,493 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Northern Oil and Gas by 25.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,951,505 shares of the company’s stock worth $56,867,000 after buying an additional 397,128 shares during the last quarter. Finally, Channing Capital Management LLC grew its position in shares of Northern Oil and Gas by 8.7% in the 1st quarter. Channing Capital Management LLC now owns 1,920,258 shares of the company’s stock worth $58,049,000 after buying an additional 153,635 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

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.