Northern Oil and Gas, Inc. (NYSE:NOG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have earned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $46.80.

Several equities analysts have commented on NOG shares. Mizuho assumed coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target on the stock. Morgan Stanley dropped their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Finally, Truist Financial cut their target price on Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, September 30th.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $36.47 on Thursday. The company has a market cap of $3.65 billion, a P/E ratio of 6.45 and a beta of 1.81. The firm has a fifty day moving average price of $37.35 and a 200 day moving average price of $38.78. 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 has a 12 month low of $31.13 and a 12 month high of $43.80.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The business had revenue of $560.80 million for the quarter, compared to the consensus estimate of $542.28 million. During the same quarter in the prior year, the business posted $1.49 EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts predict that Northern Oil and Gas will post 5.43 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.61%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is 29.73%.

Insider Buying and Selling at Northern Oil and Gas

In other news, CFO Chad W. Allen sold 1,500 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the transaction, the chief financial officer now directly owns 83,792 shares in the company, valued at $3,351,680. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Northern Oil and Gas news, CFO Chad W. Allen sold 1,500 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $40.00, for a total value of $60,000.00. Following the sale, the chief financial officer now owns 83,792 shares of the company’s stock, valued at approximately $3,351,680. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now owns 107,876 shares in the company, valued at $4,153,226. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,008 shares of company stock valued at $228,013. 2.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of NOG. Vanguard Group Inc. increased its holdings in shares of Northern Oil and Gas by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after purchasing an additional 43,940 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Northern Oil and Gas during the 1st quarter valued at approximately $1,046,000. Motley Fool Asset Management LLC boosted its stake in shares of Northern Oil and Gas by 29.0% during the 1st quarter. Motley Fool Asset Management LLC now owns 72,533 shares of the company’s stock worth $2,878,000 after acquiring an additional 16,302 shares in the last quarter. Silvercrest Asset Management Group LLC grew its holdings in shares of Northern Oil and Gas by 1.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock worth $29,747,000 after acquiring an additional 12,814 shares during the period. Finally, Capstone Investment Advisors LLC increased its stake in Northern Oil and Gas by 8,679.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock valued at $20,355,000 after purchasing an additional 507,129 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, 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.