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

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $47.20.

Several equities analysts have weighed in on the company. Piper Sandler dropped their price target on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Morgan Stanley dropped their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target for the company. Truist Financial raised their price target on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Royal Bank of Canada cut Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th.

Northern Oil and Gas Stock Performance

NYSE NOG opened at $38.47 on Tuesday. Northern Oil and Gas has a 1-year low of $31.13 and a 1-year high of $44.31. The company has a market capitalization of $3.84 billion, a P/E ratio of 4.62 and a beta of 1.85. The business has a 50 day moving average price of $39.49 and a 200 day moving average price of $38.63. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $540.23 million. During the same period last year, the business posted $1.73 EPS. Northern Oil and Gas’s quarterly revenue was up 140.0% on a year-over-year basis. Sell-side analysts expect that Northern Oil and Gas will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s payout ratio is currently 20.17%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Insight Wealth Strategies LLC lifted its stake in shares of Northern Oil and Gas by 2.7% during the fourth quarter. Insight Wealth Strategies LLC now owns 28,550 shares of the company’s stock worth $1,061,000 after purchasing an additional 751 shares in the last quarter. Doliver Advisors LP lifted its stake in shares of Northern Oil and Gas by 2.9% during the fourth quarter. Doliver Advisors LP now owns 28,667 shares of the company’s stock worth $1,065,000 after purchasing an additional 800 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Northern Oil and Gas by 21.0% during the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after purchasing an additional 368 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Northern Oil and Gas by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock worth $80,884,000 after purchasing an additional 100,761 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Northern Oil and Gas by 21.0% during the third quarter. Public Employees Retirement System of Ohio now owns 100,140 shares of the company’s stock worth $3,546,000 after purchasing an additional 17,383 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

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.