Northern Oil and Gas (NYSE:NOG) Reaches New 52-Week Low – Here’s Why

Northern Oil and Gas, Inc. (NYSE:NOG) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $33.02 and last traded at $33.18, with a volume of 985984 shares traded. The stock had previously closed at $35.38.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NOG shares. Royal Bank of Canada reduced their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Piper Sandler cut their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research report on Monday, December 16th. Truist Financial lifted their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Capital One Financial lowered Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas has a consensus rating of “Hold” and a consensus price target of $47.00.

Northern Oil and Gas Trading Down 6.7 %

The company has a market cap of $3.29 billion, a PE ratio of 6.42 and a beta of 1.81. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The stock has a 50 day moving average price of $37.62 and a 200 day moving average price of $38.30.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). The firm had revenue of $545.47 million during the quarter, compared to analysts’ expectations of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.96%. Sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.25 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.45%. Northern Oil and Gas’s payout ratio is presently 32.68%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new position in Northern Oil and Gas during the third quarter valued at $25,000. Headlands Technologies LLC purchased a new position in shares of Northern Oil and Gas in the fourth quarter worth $29,000. Signaturefd LLC raised its stake in shares of Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after purchasing an additional 427 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after purchasing an additional 801 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after purchasing an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

About Northern Oil and Gas

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.