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

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been assigned a consensus rating of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, three have issued a buy recommendation and one has issued a strong 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 $29.5714.

NOG has been the subject of several analyst reports. Morgan Stanley restated an “underweight” rating and issued a $26.00 price objective (down from $27.00) on shares of Northern Oil and Gas in a research note on Tuesday, October 14th. Royal Bank Of Canada reduced their price target 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. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Wednesday, October 8th. Mizuho set a $29.00 price objective on Northern Oil and Gas in a research note on Wednesday. Finally, Citigroup reduced their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, October 20th.

Institutional Investors Weigh In On Northern Oil and Gas

Institutional investors have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its position in shares of Northern Oil and Gas by 133.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company’s stock worth $27,000 after purchasing an additional 545 shares in the last quarter. UMB Bank n.a. grew its holdings in Northern Oil and Gas by 200.3% during the 2nd quarter. UMB Bank n.a. now owns 955 shares of the company’s stock valued at $27,000 after buying an additional 637 shares in the last quarter. First Horizon Corp bought a new stake in shares of Northern Oil and Gas during the third quarter valued at approximately $27,000. Laurel Wealth Advisors LLC lifted its holdings in shares of Northern Oil and Gas by 2,736.1% in the second quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock worth $29,000 after buying an additional 985 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in shares of Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after acquiring an additional 713 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $23.51 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $2.29 billion, a PE ratio of 13.28 and a beta of 0.98. The firm’s 50 day moving average price is $22.27 and its 200-day moving average price is $24.08. Northern Oil and Gas has a twelve month low of $19.88 and a twelve month high of $40.72.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Thursday, November 6th. The company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.21. Northern Oil and Gas had a net margin of 7.61% and a return on equity of 20.61%. The business had revenue of $556.64 million during the quarter, compared to analysts’ expectations of $528.36 million. During the same period in the prior year, the company earned $1.40 earnings per share. The firm’s revenue was down 26.1% on a year-over-year basis. Equities research analysts expect that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.7%. The ex-dividend date is Tuesday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 101.69%.

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.