Northern Oil and Gas (NYSE:NOG) Price Target Raised to $30.00

Northern Oil and Gas (NYSE:NOG) had its price objective hoisted by Mizuho from $28.00 to $30.00 in a research note released on Friday morning, MarketBeat Ratings reports. Mizuho currently has a neutral rating on the stock.

Several other research analysts have also weighed in on NOG. Morgan Stanley reissued an “underweight” rating and set a $26.00 price objective (down from $27.00) on shares of Northern Oil and Gas in a report on Tuesday, October 14th. Citigroup reduced their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Wednesday, October 8th. Finally, William Blair initiated coverage on Northern Oil and Gas in a research report on Monday, August 25th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $33.25.

Northern Oil and Gas Stock Down 3.1%

Shares of Northern Oil and Gas stock opened at $22.60 on Friday. Northern Oil and Gas has a 1-year low of $19.88 and a 1-year high of $42.35. The company has a market capitalization of $2.21 billion, a PE ratio of 12.77 and a beta of 1.05. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50-day moving average of $22.44 and a 200-day moving average of $25.56.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Monday, March 6th. The company reported $1.06 EPS for the quarter. The firm had revenue of $319.19 million during the quarter. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%. As a group, equities analysts forecast that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, December 30th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 8.0%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 101.69%.

Institutional Trading of Northern Oil and Gas

Several large investors have recently added to or reduced their stakes in NOG. Pinnacle Holdings LLC bought a new position in shares of Northern Oil and Gas in the first quarter worth $28,000. MassMutual Private Wealth & Trust FSB grew its position in Northern Oil and Gas by 133.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company’s stock valued at $27,000 after buying an additional 545 shares in the last quarter. UMB Bank n.a. increased its stake in Northern Oil and Gas by 200.3% during the 2nd quarter. UMB Bank n.a. now owns 955 shares of the company’s stock valued at $27,000 after buying an additional 637 shares during the period. Laurel Wealth Advisors LLC increased its stake in Northern Oil and Gas by 2,736.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock valued at $29,000 after buying an additional 985 shares during the period. Finally, First Horizon Corp bought a new stake in shares of Northern Oil and Gas during the 3rd quarter worth about $27,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.