Northern Oil and Gas’ (NOG) “Buy” Rating Reiterated at Bank of America

Bank of America reaffirmed their buy rating on shares of Northern Oil and Gas (NYSE:NOG) in a research report released on Friday, Benzinga reports. The firm currently has a $48.00 target price on the stock.

A number of other brokerages have also issued reports on NOG. Jefferies Financial Group boosted their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a buy rating in a research report on Thursday, March 21st. Citigroup reduced their price target on Northern Oil and Gas from $55.00 to $50.00 and set a buy rating for the company in a research report on Friday, May 3rd. Piper Sandler boosted their price target on Northern Oil and Gas from $42.00 to $43.00 and gave the stock a neutral rating in a research report on Tuesday, May 14th. Stifel Nicolaus boosted their price target on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. Finally, Truist Financial boosted their price target on Northern Oil and Gas from $55.00 to $56.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $48.90.

Northern Oil and Gas Price Performance

Shares of NOG opened at $37.05 on Friday. The company has a market cap of $3.74 billion, a P/E ratio of 6.00 and a beta of 1.76. The stock has a fifty day moving average price of $40.49 and a 200 day moving average price of $37.69. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.96. Northern Oil and Gas has a 12 month low of $31.13 and a 12 month high of $43.75.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. The firm had revenue of $396.35 million during the quarter, compared to the consensus estimate of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The firm’s revenue was down 31.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.76 EPS. On average, research analysts forecast that Northern Oil and Gas will post 5.01 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 annualized dividend and a dividend yield of 4.32%. Northern Oil and Gas’s dividend payout ratio (DPR) is 25.93%.

Insider Activity

In other news, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total transaction of $56,877.12. Following the sale, the president now directly owns 109,020 shares of the company’s stock, valued at $4,454,557.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the sale, the insider now directly owns 73,753 shares of the company’s stock, valued at $3,097,626. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $40.86, for a total value of $56,877.12. Following the sale, the president now directly owns 109,020 shares in the company, valued at $4,454,557.20. The disclosure for this sale can be found here. Insiders sold a total of 8,292 shares of company stock worth $342,852 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. TFO Wealth Partners LLC raised its position in Northern Oil and Gas by 112,100.0% during the fourth 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. Principal Securities Inc. acquired a new position in Northern Oil and Gas during the fourth quarter valued at $42,000. SRS Capital Advisors Inc. raised its position in Northern Oil and Gas by 305.9% during the fourth 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 during the period. DekaBank Deutsche Girozentrale acquired a new position in Northern Oil and Gas in the 3rd quarter worth about $67,000. Finally, Quadrant Capital Group LLC increased its position in Northern Oil and Gas by 74.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after purchasing an additional 930 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

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.