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

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

NOG has been the subject of several analyst reports. Morgan Stanley set a $24.00 target price on Northern Oil and Gas and gave the stock an “underweight” rating in a research report on Friday, January 23rd. Royal Bank Of Canada decreased their target price on Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 20th. Mizuho set a $29.00 target price on Northern Oil and Gas in a research report on Wednesday, January 21st. Bank of America upped their target price on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Citigroup upped their target price on shares of Northern Oil and Gas from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st.

Northern Oil and Gas Price Performance

NOG opened at $28.06 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.13. Northern Oil and Gas has a 52-week low of $19.88 and a 52-week high of $32.62. The company has a 50 day moving average of $27.43 and a two-hundred day moving average of $24.35. The company has a market cap of $2.73 billion, a P/E ratio of 85.02 and a beta of 0.94.

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

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, March 30th will be paid a $0.45 dividend. The ex-dividend date is Monday, March 30th. This represents a $1.80 annualized dividend and a dividend yield of 6.4%. Northern Oil and Gas’s dividend payout ratio is 545.45%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Corp purchased a new position in Northern Oil and Gas in the third quarter valued at about $27,000. Jones Financial Companies Lllp boosted its holdings in Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after purchasing an additional 713 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock valued at $43,000 after purchasing an additional 1,228 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Northern Oil and Gas by 85.7% in the second quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock valued at $44,000 after purchasing an additional 702 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Northern Oil and Gas by 572.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock valued at $36,000 after purchasing an additional 1,432 shares during the last quarter. 98.80% of the stock is currently owned by hedge funds and other 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.