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

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given an average recommendation of “Hold” by the ten analysts that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $32.3750.

A number of equities research analysts have issued reports on the company. Weiss Ratings downgraded Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Raymond James Financial set a $30.00 price target on Northern Oil and Gas and gave the company an “outperform” rating in a research report on Monday. Bank of America boosted their price target on Northern Oil and Gas from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Royal Bank Of Canada boosted their price target on Northern Oil and Gas from $30.00 to $35.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 8th. Finally, Piper Sandler boosted their price target on 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.

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently modified their holdings of NOG. Ascentis Independent Advisors purchased a new stake in shares of Northern Oil and Gas in the first quarter worth about $33,000. Jones Financial Companies Lllp boosted its position in shares of Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after buying an additional 713 shares during the period. Global Retirement Partners LLC boosted its position in shares of Northern Oil and Gas by 572.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock worth $36,000 after buying an additional 1,432 shares during the period. Plato Investment Management Ltd purchased a new stake in shares of Northern Oil and Gas in the fourth quarter worth about $43,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock worth $43,000 after buying an additional 1,228 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

NOG stock opened at $19.97 on Tuesday. The stock has a 50-day moving average price of $24.42 and a two-hundred day moving average price of $24.74. Northern Oil and Gas has a 12-month low of $19.64 and a 12-month high of $32.27. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.43. The company has a market cap of $2.17 billion, a PE ratio of -3.13 and a beta of 0.68.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The firm had revenue of $5.03 million during the quarter, compared to the consensus estimate of $511.38 million. During the same quarter in the previous year, the business earned $1.33 earnings per share. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, research analysts predict that Northern Oil and Gas will post 3.46 EPS for the current year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 9.0%. The ex-dividend date of this dividend is Monday, June 29th. Northern Oil and Gas’s payout ratio is -28.26%.

About Northern Oil and Gas

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.