Northern Oil and Gas, Inc. (NYSE:NOG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $47.50.

Several research analysts have issued reports on the company. Truist Financial upped their price objective on Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler increased their price target on Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Morgan Stanley cut their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. Finally, Royal Bank of Canada downgraded Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th.

Northern Oil and Gas Stock Down 0.1 %

NYSE:NOG opened at $41.21 on Friday. The stock’s fifty day moving average price is $39.90 and its two-hundred day moving average price is $38.77. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $44.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $4.11 billion, a price-to-earnings ratio of 4.95 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The firm had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. During the same quarter in the prior year, the business earned $1.73 EPS. The business’s revenue for the quarter was up 140.0% compared to the same quarter last year. On average, analysts anticipate that Northern Oil and Gas will post 5.4 EPS for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s payout ratio is presently 20.17%.

Insider Buying and Selling

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the completion of the transaction, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the transaction, the insider now owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. This trade represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,508 shares of company stock valued at $248,113. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northern Oil and Gas

A number of large investors have recently added to or reduced their stakes in NOG. Dimensional Fund Advisors LP increased its holdings in Northern Oil and Gas by 45.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after purchasing an additional 789,985 shares in the last quarter. American Century Companies Inc. increased its holdings in Northern Oil and Gas by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after purchasing an additional 552,645 shares in the last quarter. abrdn plc bought a new position in Northern Oil and Gas during the 3rd quarter worth about $17,096,000. Bridgewater Associates LP increased its holdings in Northern Oil and Gas by 135.6% during the 3rd quarter. Bridgewater Associates LP now owns 511,170 shares of the company’s stock worth $18,101,000 after purchasing an additional 294,223 shares in the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Northern Oil and Gas by 41.4% in the 3rd quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock valued at $33,320,000 after acquiring an additional 275,704 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

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.