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 given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $47.90.

Several brokerages have recently weighed in on NOG. Truist Financial lifted their price objective on Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Citigroup reduced their price objective on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Raymond James dropped their price target on shares of Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Piper Sandler lifted their price objective on Northern Oil and Gas from $38.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, April 19th. Finally, StockNews.com raised Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG opened at $40.41 on Thursday. Northern Oil and Gas has a 12 month low of $29.57 and a 12 month high of $43.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The company has a market cap of $4.08 billion, a P/E ratio of 6.55 and a beta of 1.84. The business’s 50 day moving average is $39.94 and its two-hundred day moving average is $37.34.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The business had revenue of $396.35 million during the quarter, compared to analyst estimates of $505.67 million. During the same quarter in the prior year, the business earned $1.76 earnings per share. The firm’s revenue for the quarter was down 31.9% on a year-over-year basis. On average, equities analysts expect that Northern Oil and Gas will post 5.46 EPS for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.96%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 25.93%.

Insider Buying and Selling

In related news, insider James B. Evans sold 945 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the transaction, the insider now owns 83,872 shares in the company, valued at approximately $3,187,136. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Adam A. Dirlam sold 2,088 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the transaction, the president now owns 122,359 shares in the company, valued at $4,649,642. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James B. Evans sold 945 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the sale, the insider now directly owns 83,872 shares of the company’s stock, valued at $3,187,136. The disclosure for this sale can be found here. Insiders have sold a total of 10,944 shares of company stock worth $436,614 in the last 90 days. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NOG. Principal Securities Inc. bought a new position in Northern Oil and Gas during the 4th quarter worth approximately $42,000. TFO Wealth Partners LLC grew its holdings in shares of Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after buying an additional 1,121 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Northern Oil and Gas by 305.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock valued at $46,000 after buying an additional 927 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in Northern Oil and Gas during the third quarter worth about $67,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Northern Oil and Gas by 74.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after acquiring an additional 930 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.