Northern Oil and Gas, Inc. (NYSE:NOG) Stock Has Average Price Target of $31.00 According to Analysts

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been assigned a consensus recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $31.00.

Several equities analysts have recently issued reports on NOG shares. Wall Street Zen raised shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Morgan Stanley set a $25.00 target price on shares of Northern Oil and Gas and gave the stock an “underweight” rating in a research note on Monday, June 29th. Citigroup dropped their target price on shares of Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Raymond James Financial restated an “outperform” rating and issued a $31.00 target price (up from $28.00) on shares of Northern Oil and Gas in a report on Thursday, September 10th. Finally, Weiss Ratings raised shares of Northern Oil and Gas from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $23.30 on Friday. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -4.50 and a beta of 0.73. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37. The business’s 50-day moving average price is $24.07 and its 200-day moving average price is $23.93. Northern Oil and Gas has a 12 month low of $17.18 and a 12 month high of $31.17.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data 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 negative net margin of 25.35% and a positive return on equity of 18.69%. The firm had revenue of $745.24 million during the quarter, compared to analyst estimates of $594.09 million. During the same period in the prior year, the company earned $1.37 EPS. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Northern Oil and Gas will post 3.63 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend is Tuesday, September 29th. Northern Oil and Gas’s payout ratio is currently -34.75%.

Institutional Investors Weigh In On Northern Oil and Gas

Large investors have recently added to or reduced their stakes in the business. Transamerica Financial Advisors LLC boosted its position in shares of Northern Oil and Gas by 22.1% during the second quarter. Transamerica Financial Advisors LLC now owns 2,242 shares of the company’s stock valued at $42,000 after buying an additional 406 shares during the last quarter. Van Den Berg Management I Inc. grew its holdings in Northern Oil and Gas by 1.0% during the second quarter. Van Den Berg Management I Inc. now owns 42,782 shares of the company’s stock worth $776,000 after buying an additional 439 shares in the last quarter. Isthmus Partners LLC raised its position in Northern Oil and Gas by 0.8% in the 1st quarter. Isthmus Partners LLC now owns 82,358 shares of the company’s stock valued at $2,407,000 after buying an additional 619 shares during the last quarter. IFP Advisors Inc raised its position in Northern Oil and Gas by 58.6% in the 2nd quarter. IFP Advisors Inc now owns 1,903 shares of the company’s stock valued at $35,000 after buying an additional 703 shares during the last quarter. Finally, Epiq Partners LLC lifted its stake in Northern Oil and Gas by 1.2% during the 2nd quarter. Epiq Partners LLC now owns 66,452 shares of the company’s stock valued at $1,206,000 after acquiring an additional 764 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is an independent exploration and production company focused on acquiring and managing non-operated interests in oil and natural gas properties. Rather than serving as the primary operator of wells, the company invests alongside established operators and participates in the development and production of upstream assets.

The company’s portfolio includes interests in producing and undeveloped properties across several major U.S. oil and gas regions, including the Williston Basin, Permian Basin and Uinta Basin.