Northern Oil and Gas, Inc. (NYSE:NOG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $46.33.

Several research firms recently commented on NOG. Truist Financial raised their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Capital One Financial downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Royal Bank of Canada dropped their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a research report on Monday, December 16th. Finally, Piper Sandler cut their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th.

Insider Buying and Selling at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the business’s 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 transaction, the president now directly owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas L. O’grady purchased 1,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $27.48 per share, with a total value of $27,480.00. Following the completion of the purchase, the chief executive officer now owns 226,189 shares of the company’s stock, valued at $6,215,673.72. The trade was a 0.44 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is owned by insiders.

Institutional Trading of Northern Oil and Gas

Institutional investors have recently bought and sold shares of the stock. Icon Wealth Advisors LLC purchased a new position in shares of Northern Oil and Gas in the third quarter worth $828,000. Smartleaf Asset Management LLC raised its stake in Northern Oil and Gas by 297.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock worth $77,000 after acquiring an additional 1,570 shares during the last quarter. Principal Financial Group Inc. lifted its position in Northern Oil and Gas by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company’s stock worth $17,904,000 after acquiring an additional 11,690 shares during the period. State of Alaska Department of Revenue grew its stake in Northern Oil and Gas by 36.1% during the 4th quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company’s stock valued at $2,877,000 after purchasing an additional 20,550 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Northern Oil and Gas in the fourth quarter valued at about $909,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Down 2.1 %

Shares of NYSE:NOG opened at $30.19 on Friday. The firm has a market capitalization of $2.99 billion, a PE ratio of 5.87 and a beta of 1.84. The business has a 50 day simple moving average of $33.24 and a two-hundred day simple moving average of $36.83. Northern Oil and Gas has a 1 year low of $26.60 and a 1 year high of $44.31. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business had revenue of $545.47 million for the quarter, compared to analysts’ expectations of $552.34 million. On average, equities analysts predict that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be issued a $0.45 dividend. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 35.02%.

Northern Oil and Gas declared that its board has approved a stock repurchase program on Tuesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.