Northern Oil and Gas, Inc. (NYSE:NOG) Receives $47.70 Consensus Target Price from Analysts

Shares of Northern Oil and Gas, Inc. (NYSE:NOGGet Free Report) have earned a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $46.80.

NOG has been the subject of several recent analyst reports. Piper Sandler cut their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Truist Financial reduced their target price on Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Morgan Stanley reduced their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research report on Thursday. They issued a “buy” rating and a $53.00 target price on the stock.

Read Our Latest Analysis on Northern Oil and Gas

Insider Activity

In related news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now owns 224,332 shares in the company, valued at approximately $8,526,859.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the sale, the chief executive officer now directly owns 224,332 shares in the company, valued at approximately $8,526,859.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the transaction, the insider now directly owns 105,713 shares in the company, valued at $3,727,440.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,258 shares of company stock worth $310,551 over the last ninety days. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares during the period. TFO Wealth Partners LLC raised its holdings in 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. Quarry LP lifted its position in Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after buying an additional 874 shares during the last quarter. Fifth Third Bancorp lifted its position in Northern Oil and Gas by 88.2% in the second quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock valued at $82,000 after buying an additional 1,033 shares during the last quarter. Finally, Marks Group Wealth Management Inc purchased a new position in Northern Oil and Gas during the first quarter worth about $215,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Trading Up 1.5 %

Northern Oil and Gas stock opened at $39.66 on Friday. The firm has a market cap of $4.01 billion, a PE ratio of 6.43 and a beta of 1.81. Northern Oil and Gas has a 12 month low of $31.13 and a 12 month high of $43.80. The stock’s 50 day simple moving average is $37.65 and its two-hundred day simple moving average is $39.09. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91.

Northern Oil and Gas (NYSE:NOGGet Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.20 by $0.26. The company had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business earned $1.49 earnings per share. Analysts anticipate that Northern Oil and Gas will post 5.29 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.24%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is 27.23%.

Northern Oil and Gas Company Profile

(Get Free Report

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.

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Analyst Recommendations for Northern Oil and Gas (NYSE:NOG)

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