Northern Oil and Gas (NYSE:NOG) Price Target Cut to $30.00 by Analysts at Royal Bank Of Canada

Northern Oil and Gas (NYSE:NOG) had its price objective reduced by Royal Bank Of Canada from $33.00 to $30.00 in a report released on Tuesday morning, MarketBeat reports. They currently have a sector perform rating on the stock.

Other research analysts have also recently issued research reports about the company. Citigroup dropped their price target on 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. Morgan Stanley reaffirmed 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. Mizuho lifted their target price on shares of Northern Oil and Gas from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Hold” and an average target price of $29.71.

Northern Oil and Gas Stock Down 0.5%

Northern Oil and Gas stock opened at $22.13 on Tuesday. The firm has a 50 day moving average price of $22.24 and a 200-day moving average price of $24.08. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.05. Northern Oil and Gas has a twelve month low of $19.88 and a twelve month high of $41.74. The company has a market capitalization of $2.16 billion, a P/E ratio of 12.50 and a beta of 0.98.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Thursday, November 6th. The company reported $1.03 EPS for the quarter, beating the consensus estimate 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 business had revenue of $556.64 million for the quarter, compared to the consensus estimate of $528.36 million. During the same quarter in the prior year, the business earned $1.40 earnings per share. Northern Oil and Gas’s revenue for the quarter was down 26.1% on a year-over-year basis. As a group, equities analysts predict that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th will be given 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 is Tuesday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is 101.69%.

Institutional Trading of Northern Oil and Gas

Hedge funds and other institutional investors have recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in Northern Oil and Gas by 200.3% in the 2nd quarter. UMB Bank n.a. now owns 955 shares of the company’s stock valued at $27,000 after purchasing an additional 637 shares during the period. Laurel Wealth Advisors LLC raised its position 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 buying an additional 985 shares in the last quarter. First Horizon Corp purchased a new stake in shares of Northern Oil and Gas in the third quarter worth $27,000. Jones Financial Companies Lllp boosted its stake in Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after buying an additional 713 shares during the period. Finally, IFP Advisors Inc grew its position in Northern Oil and Gas by 315.7% during the second quarter. IFP Advisors Inc now owns 1,351 shares of the company’s stock worth $38,000 after buying an additional 1,026 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

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.