Northern Oil and Gas Sees Unusually High Options Volume (NYSE:NOG)

Northern Oil and Gas, Inc. (NYSE:NOG) was the target of unusually large options trading activity on Friday. Traders acquired 2,483 call options on the stock. This is an increase of approximately 99% compared to the typical volume of 1,246 call options.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citigroup lowered their price target on 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. Mizuho reduced their price target on Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday, September 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Wednesday, October 8th. William Blair started coverage on shares of Northern Oil and Gas in a research note on Monday, August 25th. They set an “outperform” rating on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $26.00 target price (down from $27.00) on shares of Northern Oil and Gas in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.00.

Institutional Investors Weigh In On Northern Oil and Gas

Large investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB increased its position in 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 valued at $27,000 after acquiring an additional 545 shares during 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 purchased a new stake in shares of Northern Oil and Gas in the third quarter worth about $27,000. Pinnacle Holdings LLC bought a new position in Northern Oil and Gas during the first quarter valued at $28,000. Finally, Laurel Wealth Advisors LLC increased its position in shares of Northern Oil and Gas by 2,736.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock valued at $29,000 after purchasing an additional 985 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $24.87 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s fifty day moving average price is $22.54 and its two-hundred day moving average price is $25.69. Northern Oil and Gas has a 1 year low of $19.88 and a 1 year high of $42.35. The firm has a market cap of $2.43 billion, a PE ratio of 14.05 and a beta of 1.05.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Monday, March 6th. The company reported $1.06 earnings per share for the quarter. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%.The firm had revenue of $319.19 million during the quarter. On average, equities research analysts forecast that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Tuesday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 101.69%.

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.