Northern Oil and Gas, Inc. (NYSE:NOG) Receives Average Rating of “Hold” from Brokerages

Northern Oil and Gas, Inc. (NYSE:NOG) has been assigned a consensus recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $31.7143.

NOG has been the topic of several recent research reports. Piper Sandler lifted their price objective on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Thursday, January 22nd. Morgan Stanley set a $24.00 price target on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research note on Friday, January 23rd. Citigroup lifted their price target on Northern Oil and Gas from $34.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Bank of America boosted their price objective on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. First Horizon Corp acquired a new position in shares of Northern Oil and Gas during the third quarter valued at $27,000. Jones Financial Companies Lllp grew its position in Northern Oil and Gas by 181.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after buying an additional 713 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Northern Oil and Gas by 429.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock valued at $43,000 after buying an additional 1,228 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Northern Oil and Gas by 85.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock valued at $44,000 after buying an additional 702 shares during the period. Finally, Global Retirement Partners LLC increased its stake in Northern Oil and Gas by 572.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock valued at $36,000 after buying an additional 1,432 shares during the period. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $27.62 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $2.69 billion, a PE ratio of 83.71 and a beta of 0.94. Northern Oil and Gas has a 1-year low of $19.88 and a 1-year high of $32.62. The business’s fifty day moving average price is $26.95 and its two-hundred day moving average price is $24.25.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.12. The company had revenue of $610.18 million during the quarter, compared to the consensus estimate of $524.98 million. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.74%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 earnings per share. On average, research analysts expect that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, March 30th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $1.80 annualized dividend and a yield of 6.5%. Northern Oil and Gas’s payout ratio is presently 545.45%.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.