Northern Oil and Gas, Inc. (NYSE:NOG) receives an average rating of “Moderate Buy” from analysts

Northern Oil and Gas, Inc. (NYSE:NOG – Free Report) has received an average rating of buy from the eleven research firms that cover the company, Marketbeat reports. Two equities analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given the company a strong buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $48.90.

Several equities analysts have issued reports on the company. Bank of America increased their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Stifel Nicolaus increased their price target on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. StockNews.com downgraded Northern Oil and Gas from “hold” to “sell” in a report on Thursday, August 1st. Piper Sandler increased their price target on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Finally, Citigroup lowered their price objective on shares of Northern Oil and Gas from $55.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, May 3rd.

Check out our latest research report on Northern Oil and Gas

Northern Oil & Gas trading down 0.4%

NYSE NOG opened at $37.96 on Friday. Northern Oil and Gas has a one year low of $31.13 and a one year high of $43.80. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.96. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 6.15 and a beta of 1.79. The company’s 50-day moving average is $38.75 and its 200-day moving average is $38.33.

Northern Oil and Gas (NYSE:NOG – Get Free Report) last released its earnings results on Tuesday, July 30. The company reported earnings per share of $1.46 for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. The company had revenues of $560.80 million for the quarter, compared to the consensus estimate of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. Northern Oil and Gas’s revenues grew 17.7% year-over-year. During the same quarter last year, the company posted earnings per share of $1.49. Equities analysts forecast that Northern Oil and Gas will post earnings per share of $5.12 for the current year.

Northern Oil and Gas increases dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will receive a dividend of $0.42 per share. 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. This represents an annualized dividend of $1.68 and a dividend yield of 4.43%. Northern Oil and Gas’s payout ratio is 27.23%.

Insider activities at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, July 8. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the transaction, the CEO now owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction that occurred on Monday, June 3. The shares were sold at an average price of $40.86, for a total transaction of $56,877.12. Following the completion of the transaction, the president now owns 109,020 shares of the company’s stock, valued at approximately $4,454,557.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. Also, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas in a transaction that occurred on Monday, July 8. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the sale, the CEO now directly owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The disclosure regarding this sale can be found here. Insiders have sold 6,534 shares of the company’s stock, valued at $252,144, in the last ninety days. 2.80% of the shares are owned by company insiders.

Institutional inflows and outflows

Several hedge funds have recently made changes to their holdings in NOG. Bay Colony Advisory Group Inc dba Bay Colony Advisors increased its holdings in Northern Oil and Gas by 1.3% in the fourth quarter. Bay Colony Advisory Group Inc dba Bay Colony Advisors now owns 22,191 shares of the company’s stock valued at $823,000 after acquiring an additional 290 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in Northern Oil and Gas by 0.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 63,900 shares of the company’s stock valued at $2,369,000 after acquiring an additional 500 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 in the last quarter. Arizona State Retirement System increased its position in Northern Oil and Gas by 2.2% in the second quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock valued at $945,000 after purchasing an additional 555 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in Northern Oil and Gas by 1.8% in the fourth quarter. New York State Teachers Retirement System now owns 36,429 shares of the company’s stock valued at $1,350,000 after purchasing an additional 643 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

(Get free report

Northern Oil and Gas, Inc., an independent energy company, is engaged in the acquisition, exploration, exploitation, development and production of crude oil and natural gas properties in the United States. It holds interests primarily in the Williston Basin, the Appalachian Basin and the Permian Basin in the United States.