Northern Oil and Gas, Inc. (NYSE:NOG) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $38.78.

Several equities research analysts have recently commented on NOG shares. Piper Sandler boosted their price target on Northern Oil and Gas from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Mizuho decreased their price target on Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 16th. Raymond James Financial reissued a “strong-buy” rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Bank of America boosted their price target on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Finally, Citigroup boosted their price target on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th.

Northern Oil and Gas Price Performance

Shares of NOG opened at $25.02 on Friday. Northern Oil and Gas has a twelve month low of $19.88 and a twelve month high of $44.31. The stock’s 50 day moving average is $29.05 and its two-hundred day moving average is $29.69. The firm has a market capitalization of $2.47 billion, a PE ratio of 4.13 and a beta of 1.55. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.96.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.50. Northern Oil and Gas had a return on equity of 22.28% and a net margin of 23.62%. The company had revenue of $706.81 million for the quarter, compared to analyst estimates of $555.54 million. During the same quarter in the previous year, the company earned $1.46 EPS. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. Research analysts anticipate that Northern Oil and Gas will post 5.18 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.2%. Northern Oil and Gas’s dividend payout ratio is currently 29.70%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of Northern Oil and Gas during the 4th quarter worth approximately $29,000. Pinnacle Holdings LLC acquired a new position in shares of Northern Oil and Gas during the 1st quarter worth approximately $28,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Northern Oil and Gas by 133.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company’s stock worth $27,000 after purchasing an additional 545 shares during the last quarter. UMB Bank n.a. raised its position in shares of Northern Oil and Gas by 200.3% during the 2nd quarter. UMB Bank n.a. now owns 955 shares of the company’s stock worth $27,000 after purchasing an additional 637 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Northern Oil and Gas by 60.0% during the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company’s stock worth $33,000 after purchasing an additional 405 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.