Northern Oil and Gas, Inc. (NYSE:NOG) Receives Average Rating of “Hold” from Brokerages

Northern Oil and Gas, Inc. (NYSE:NOG) has earned an average recommendation of “Hold” from the ten research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $30.1429.

NOG has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Wednesday, October 8th. Morgan Stanley reissued an “underweight” rating and issued a $26.00 price objective (down from $27.00) on shares of Northern Oil and Gas in a research note on Tuesday, October 14th. Mizuho lifted their target price on Northern Oil and Gas from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Finally, Citigroup lowered their price target on Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, October 20th.

Institutional Trading of Northern Oil and Gas

A number of large investors have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its stake in shares of Northern Oil and Gas by 133.3% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company’s stock worth $27,000 after purchasing an additional 545 shares in the last quarter. UMB Bank n.a. raised its holdings 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 acquiring an additional 637 shares during the period. First Horizon Corp purchased a new stake in shares of Northern Oil and Gas during the third quarter worth $27,000. Laurel Wealth Advisors LLC boosted its holdings in shares of Northern Oil and Gas by 2,736.1% in the second quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock worth $29,000 after acquiring an additional 985 shares during the period. Finally, Jones Financial Companies Lllp grew its position in shares of Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after purchasing an additional 713 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Trading Down 1.4%

NYSE:NOG opened at $22.25 on Friday. Northern Oil and Gas has a 52 week low of $19.88 and a 52 week high of $42.22. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.10 and a current ratio of 1.10. The firm’s fifty day moving average is $22.25 and its 200-day moving average is $24.26. The firm has a market cap of $2.17 billion, a P/E ratio of 12.57 and a beta of 0.98.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Thursday, November 6th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.21. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%.The company had revenue of $556.64 million for the quarter, compared to the consensus estimate of $528.36 million. During the same period in the previous year, the business earned $1.40 EPS. The firm’s revenue was down 26.1% compared to the same quarter last year. Equities analysts expect that Northern Oil and Gas will post 5.18 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, December 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend is Tuesday, December 30th. Northern Oil and Gas’s payout ratio is 101.69%.

About Northern Oil and Gas

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.