Northern Oil and Gas, Inc. (NYSE:NOG) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given a consensus rating of “Hold” by the nine analysts that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $30.6250.

Several research analysts have recently issued reports on the stock. Mizuho upgraded shares of Northern Oil and Gas to a “hold” rating in a report on Friday, July 31st. Citigroup lowered their price target on shares of Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating for the company in a report on Monday, July 20th. Raymond James Financial reissued an “outperform” rating and set a $28.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, July 15th. Wall Street Zen raised shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Morgan Stanley set a $25.00 price objective on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research report on Monday, June 29th.

Northern Oil and Gas Trading Up 0.0%

NYSE NOG opened at $25.93 on Monday. The firm has a market cap of $2.76 billion, a PE ratio of -5.01 and a beta of 0.73. Northern Oil and Gas has a 1-year low of $17.18 and a 1-year high of $31.17. The stock has a 50-day moving average of $22.24 and a 200-day moving average of $24.20. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.05). Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%.The company had revenue of $745.24 million for the quarter, compared to the consensus estimate of $594.09 million. During the same quarter in the previous year, the business earned $1.37 earnings per share. Northern Oil and Gas’s revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Northern Oil and Gas will post 3.79 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 6.9%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently -34.75%.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, Director Bahram Akradi purchased 25,760 shares of the stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $19.40 per share, with a total value of $499,744.00. Following the transaction, the director directly owned 1,713,444 shares of the company’s stock, valued at approximately $33,240,813.60. This trade represents a 1.53% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds have recently made changes to their positions in NOG. Northwestern Mutual Wealth Management Co. purchased a new stake in Northern Oil and Gas in the second quarter worth $29,000. Allworth Financial LP purchased a new position in Northern Oil and Gas during the 2nd quarter valued at $31,000. Ascentis Independent Advisors purchased a new position in Northern Oil and Gas during the 1st quarter valued at $33,000. Jones Financial Companies Lllp raised its holdings in Northern Oil and Gas by 181.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after purchasing an additional 713 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in Northern Oil and Gas by 572.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock worth $36,000 after purchasing an additional 1,432 shares in the last quarter. 98.80% of the stock is 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.