Northern Oil and Gas (NYSE:NOG) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Northern Oil and Gas (NYSE:NOG) from a sell rating to a hold rating in a report issued on Thursday morning.

A number of other research firms also recently commented on NOG. Royal Bank of Canada reaffirmed an outperform rating and issued a $46.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. Citigroup cut their price target on shares of Northern Oil and Gas from $50.00 to $45.00 and set a buy rating for the company in a report on Wednesday, February 28th. Stifel Nicolaus lifted their price objective on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Raymond James cut their target price on Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating for the company in a research note on Wednesday, January 24th. Finally, Jefferies Financial Group raised their target price on Northern Oil and Gas from $45.00 to $51.00 and gave the company a buy rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $47.90.

Northern Oil and Gas Price Performance

Shares of NOG opened at $40.25 on Thursday. The firm has a market capitalization of $4.07 billion, a PE ratio of 6.52 and a beta of 1.84. The company’s 50-day moving average is $39.61 and its 200-day moving average is $37.34. Northern Oil and Gas has a fifty-two week low of $29.57 and a fifty-two week high of $43.75. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 1.32.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The business had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. During the same period last year, the firm earned $1.76 earnings per share. Northern Oil and Gas’s revenue for the quarter was down 31.9% compared to the same quarter last year. Equities analysts forecast that Northern Oil and Gas will post 5.46 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s payout ratio is 25.93%.

Insider Activity at Northern Oil and Gas

In other news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $40.98, for a total transaction of $153,675.00. Following the sale, the chief executive officer now directly owns 228,082 shares of the company’s stock, valued at $9,346,800.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $40.98, for a total transaction of $153,675.00. Following the sale, the chief executive officer now directly owns 228,082 shares of the company’s stock, valued at approximately $9,346,800.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James B. Evans sold 945 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the sale, the insider now directly owns 83,872 shares in the company, valued at $3,187,136. The disclosure for this sale can be found here. Insiders have sold a total of 10,944 shares of company stock valued at $436,614 in the last 90 days. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northern Oil and Gas

A number of institutional investors have recently added to or reduced their stakes in the business. Easterly Investment Partners LLC grew its holdings in Northern Oil and Gas by 2.2% during the 1st quarter. Easterly Investment Partners LLC now owns 50,521 shares of the company’s stock worth $2,005,000 after acquiring an additional 1,094 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Northern Oil and Gas in the 1st quarter valued at $7,780,000. Capstone Investment Advisors LLC boosted its stake in shares of Northern Oil and Gas by 8,679.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock valued at $20,355,000 after purchasing an additional 507,129 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Northern Oil and Gas by 17.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,992 shares of the company’s stock valued at $396,000 after purchasing an additional 1,453 shares during the last quarter. Finally, Hartline Investment Corp bought a new stake in shares of Northern Oil and Gas in the 1st quarter valued at $894,000. 98.80% of the stock is owned by institutional investors.

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.