Northern Oil and Gas, Inc. (NYSE:NOG) Receives $33.25 Consensus Target Price from Brokerages

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given an average recommendation of “Hold” by the eleven ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $33.25.

A number of analysts have issued reports on NOG shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Wednesday, October 8th. Morgan Stanley restated an “underweight” rating and issued a $26.00 price target (down previously from $27.00) on shares of Northern Oil and Gas in a research report on Tuesday, October 14th. Citigroup decreased their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, October 20th. Finally, Mizuho lifted their price objective on shares of Northern Oil and Gas from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th.

Northern Oil and Gas Stock Up 2.2%

NOG opened at $21.87 on Tuesday. The firm has a 50-day simple moving average of $22.19 and a two-hundred day simple moving average of $25.02. Northern Oil and Gas has a 52 week low of $19.88 and a 52 week high of $42.35. The company has a market capitalization of $2.13 billion, a PE ratio of 12.35 and a beta of 1.05. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.05.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Monday, March 6th. The company reported $1.06 earnings per share (EPS) for the quarter. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%.The firm had revenue of $319.19 million for the quarter. Analysts forecast that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, December 30th will be given a $0.45 dividend. The ex-dividend date is Tuesday, December 30th. This represents a $1.80 annualized dividend and a yield of 8.2%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 101.69%.

Institutional Investors Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DLD Asset Management LP increased its position in shares of Northern Oil and Gas by 42.9% during the 2nd quarter. DLD Asset Management LP now owns 25,000,000 shares of the company’s stock valued at $708,750,000 after purchasing an additional 7,500,000 shares during the last quarter. Tributary Capital Management LLC boosted its stake in Northern Oil and Gas by 146.3% during the third quarter. Tributary Capital Management LLC now owns 1,312,256 shares of the company’s stock worth $32,544,000 after buying an additional 779,492 shares during the period. BW Gestao de Investimentos Ltda. bought a new position in Northern Oil and Gas during the first quarter valued at $14,137,000. Bridgeway Capital Management LLC purchased a new stake in shares of Northern Oil and Gas in the third quarter valued at $11,295,000. Finally, Jennison Associates LLC lifted its holdings in shares of Northern Oil and Gas by 80.2% in the 2nd quarter. Jennison Associates LLC now owns 924,629 shares of the company’s stock worth $26,213,000 after acquiring an additional 411,457 shares during the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

About Northern Oil and Gas

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.