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

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given an average recommendation of “Hold” by the nine analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $29.5714.

Several research firms recently weighed in on NOG. Royal Bank Of Canada reduced their target price on shares of Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a report on Tuesday, January 20th. Piper Sandler raised their price objective on Northern Oil and Gas from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley set a $24.00 price objective on Northern Oil and Gas and gave the stock an “underweight” rating in a research note on Friday, January 23rd. Mizuho set a $29.00 target price on Northern Oil and Gas in a research report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Thursday, January 22nd.

Northern Oil and Gas Trading Up 1.7%

NYSE NOG opened at $28.81 on Friday. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 87.30 and a beta of 0.96. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.09 and a current ratio of 1.09. Northern Oil and Gas has a one year low of $19.88 and a one year high of $32.62. The company’s 50 day moving average price is $24.54 and its 200 day moving average price is $23.85.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.12. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.74%. The company had revenue of $610.18 million during the quarter, compared to the consensus estimate of $524.98 million. During the same period in the previous year, the firm earned $1.11 earnings per share. Northern Oil and Gas’s revenue for the quarter was up 18.5% on a year-over-year basis. On average, sell-side analysts predict that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, March 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Monday, March 30th. Northern Oil and Gas’s dividend payout ratio is currently 545.45%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Sankala Group LLC acquired a new stake in Northern Oil and Gas during the 4th quarter valued at $88,000. State of Tennessee Department of Treasury increased its stake in Northern Oil and Gas by 21.3% during the 4th quarter. State of Tennessee Department of Treasury now owns 29,316 shares of the company’s stock worth $629,000 after buying an additional 5,156 shares during the period. Voloridge Investment Management LLC acquired a new position in Northern Oil and Gas in the 4th quarter worth $4,792,000. Virtus Investment Advisers LLC lifted its holdings in Northern Oil and Gas by 8.4% in the 4th quarter. Virtus Investment Advisers LLC now owns 7,394 shares of the company’s stock worth $159,000 after buying an additional 572 shares in the last quarter. Finally, SummitTX Capital L.P. boosted its position in Northern Oil and Gas by 33.8% in the 4th quarter. SummitTX Capital L.P. now owns 108,905 shares of the company’s stock valued at $2,338,000 after buying an additional 27,502 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

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.