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

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $48.90.

A number of research analysts have recently commented on the stock. Piper Sandler upped their price target on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Bank of America restated a “buy” rating and issued a $48.00 price target on shares of Northern Oil and Gas in a report on Friday, June 14th. Citigroup cut their price target on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, March 6th.

Insider Activity at Northern Oil and Gas

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total value of $153,675.00. Following the completion of the transaction, the chief executive officer now directly owns 228,082 shares of the company’s stock, valued at approximately $9,346,800.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider James B. Evans sold 3,150 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the sale, the insider now owns 73,753 shares of the company’s stock, valued at approximately $3,097,626. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total transaction of $153,675.00. Following the sale, the chief executive officer now directly owns 228,082 shares in the company, valued at approximately $9,346,800.36. The disclosure for this sale can be found here. Insiders sold 8,292 shares of company stock valued at $342,852 in the last three months. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Northern Oil and Gas

Hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners purchased a new position in shares of Northern Oil and Gas during the 1st quarter valued at approximately $885,000. Verity Asset Management Inc. purchased a new position in shares of Northern Oil and Gas during the 1st quarter worth $423,000. Garner Asset Management Corp purchased a new position in shares of Northern Oil and Gas during the 1st quarter worth $281,000. Motley Fool Asset Management LLC raised its holdings in shares of Northern Oil and Gas by 31.4% during the 1st quarter. Motley Fool Asset Management LLC now owns 73,863 shares of the company’s stock worth $2,931,000 after acquiring an additional 17,632 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its holdings in shares of Northern Oil and Gas by 1.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock worth $29,747,000 after acquiring an additional 12,814 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

NOG stock opened at $37.26 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Northern Oil and Gas has a twelve month low of $31.13 and a twelve month high of $43.75. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 6.04 and a beta of 1.76. The firm’s fifty day simple moving average is $40.10 and its two-hundred day simple moving average is $37.68.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. The business had revenue of $396.35 million for the quarter, compared to analysts’ expectations of $505.67 million. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The business’s revenue was down 31.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.76 earnings per share. As a group, analysts anticipate that Northern Oil and Gas will post 5.04 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, June 27th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s payout ratio is 25.93%.

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.