Northern Oil and Gas, Inc. (NYSE:NOG) Given Consensus Recommendation of “Hold” by Analysts

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have received a consensus rating of “Hold” from the nine research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $31.7143.

NOG has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Citigroup upped their price objective on Northern Oil and Gas from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday. Piper Sandler increased their target price on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Morgan Stanley set a $24.00 price target on Northern Oil and Gas and gave the company an “underweight” rating in a report on Friday, January 23rd. Finally, Royal Bank Of Canada dropped their price target on Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 20th.

Northern Oil and Gas Trading Down 5.5%

Shares of NOG opened at $27.62 on Thursday. Northern Oil and Gas has a 12 month low of $19.88 and a 12 month high of $32.62. The stock’s 50-day moving average is $26.95 and its two-hundred day moving average is $24.25. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $2.69 billion, a PE ratio of 83.71 and a beta of 0.94.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The firm had revenue of $610.18 million during the quarter, compared to analysts’ expectations of $524.98 million. Northern Oil and Gas had a return on equity of 19.74% and a net margin of 1.57%.Northern Oil and Gas’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.11 EPS. Equities analysts forecast that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, March 30th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, March 30th. This represents a $1.80 annualized dividend and a yield of 6.5%. Northern Oil and Gas’s payout ratio is presently 545.45%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Deprince Race & Zollo Inc. bought a new stake in shares of Northern Oil and Gas during the 4th quarter valued at about $25,492,000. Tributary Capital Management LLC boosted its stake in Northern Oil and Gas by 146.3% in the third quarter. Tributary Capital Management LLC now owns 1,312,256 shares of the company’s stock valued at $32,544,000 after acquiring an additional 779,492 shares during the period. Bridgeway Capital Management LLC acquired a new position in Northern Oil and Gas in the third quarter valued at approximately $11,295,000. SG Americas Securities LLC grew its holdings in shares of Northern Oil and Gas by 499.9% during the fourth quarter. SG Americas Securities LLC now owns 421,809 shares of the company’s stock valued at $9,056,000 after purchasing an additional 351,490 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Northern Oil and Gas by 5.0% during the third quarter. Dimensional Fund Advisors LP now owns 4,941,662 shares of the company’s stock valued at $122,563,000 after purchasing an additional 235,869 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 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.