Northern Oil and Gas, Inc. (NYSE:NOG) Receives $47.20 Average PT from Brokerages

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $47.50.

A number of equities analysts have commented on NOG shares. Morgan Stanley decreased their target price on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Truist Financial boosted their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday. Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research report on Monday, December 16th. Piper Sandler reduced their price target on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Finally, Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,836 shares of company stock worth $72,869 over the last 90 days. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Northern Oil and Gas

Institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC lifted its holdings in Northern Oil and Gas by 23.8% during the 2nd quarter. Natixis Advisors LLC now owns 82,456 shares of the company’s stock valued at $3,065,000 after purchasing an additional 15,870 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Northern Oil and Gas by 12.0% during the second quarter. Rhumbline Advisers now owns 285,609 shares of the company’s stock worth $10,616,000 after buying an additional 30,690 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Northern Oil and Gas by 1.1% in the 2nd quarter. Victory Capital Management Inc. now owns 866,344 shares of the company’s stock valued at $32,202,000 after buying an additional 9,241 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of 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 worth $945,000 after acquiring an additional 555 shares during the period. Finally, Choreo LLC bought a new stake in shares of Northern Oil and Gas during the 2nd quarter valued at about $266,000. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

NOG stock opened at $40.77 on Tuesday. The stock’s 50 day simple moving average is $39.88 and its 200 day simple moving average is $38.70. Northern Oil and Gas has a 12-month low of $31.13 and a 12-month high of $44.31. The firm has a market cap of $4.07 billion, a P/E ratio of 4.89 and a beta of 1.85. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. During the same period in the prior year, the company earned $1.73 earnings per share. The firm’s revenue was up 140.0% compared to the same quarter last year. As a group, equities research analysts predict that Northern Oil and Gas will post 5.4 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.12%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

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.