Northern Oil and Gas (NYSE:NOG) Stock Price Down 5.2% – What’s Next?

Northern Oil and Gas, Inc. (NYSE:NOG) shares fell 5.2% during mid-day trading on Wednesday . The stock traded as low as $25.95 and last traded at $25.72. 350,611 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 2,642,565 shares. The stock had previously closed at $27.12.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup decreased their price objective on Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating for the company in a report on Monday, July 20th. Wall Street Zen raised shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded Northern Oil and Gas from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Johnson Rice lowered shares of Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 price target on the stock. in a research report on Wednesday, May 20th. Finally, Morgan Stanley set a $25.00 target price on Northern Oil and Gas and gave the stock an “underweight” rating in a research note on Monday, June 29th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.00.

Northern Oil and Gas Price Performance

The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -4.95 and a beta of 0.73. The company’s 50 day moving average is $23.41 and its 200 day moving average is $24.16. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.37.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The business had revenue of $745.24 million during the quarter, compared to the consensus estimate of $594.09 million. During the same period in the prior year, the firm earned $1.37 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 3.63 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Tuesday, September 29th. Northern Oil and Gas’s dividend payout ratio is presently -34.75%.

Insider Activity at Northern Oil and Gas

In related news, Director Bahram Akradi purchased 25,760 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average price of $19.40 per share, with a total value of $499,744.00. Following the completion of the purchase, the director directly owned 1,713,444 shares in the company, valued at $33,240,813.60. This trade represents a 1.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

A number of institutional investors and hedge funds have recently made changes to their positions in NOG. The Manufacturers Life Insurance Company raised its stake in Northern Oil and Gas by 23.4% during the second quarter. The Manufacturers Life Insurance Company now owns 50,521 shares of the company’s stock worth $917,000 after acquiring an additional 9,594 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Northern Oil and Gas during the 2nd quarter valued at approximately $279,000. Tidal Investments LLC increased its position in Northern Oil and Gas by 16.1% during the 2nd quarter. Tidal Investments LLC now owns 48,313 shares of the company’s stock worth $877,000 after purchasing an additional 6,712 shares in the last quarter. Engineers Gate Manager LP bought a new position in Northern Oil and Gas in the 2nd quarter valued at approximately $1,330,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Northern Oil and Gas during the second quarter worth $105,000. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is an independent exploration and production company focused on acquiring and managing non-operated interests in oil and natural gas properties. Rather than serving as the primary operator of wells, the company invests alongside established operators and participates in the development and production of upstream assets.

The company’s portfolio includes interests in producing and undeveloped properties across several major U.S. oil and gas regions, including the Williston Basin, Permian Basin and Uinta Basin.