Northern Oil and Gas, Inc. (NOG) – What Are Researchers Saying About This Stock?

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have earned an average recommendation of “Hold” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $31.22.

Several brokerages have recently weighed in on NOG. Weiss Ratings lowered shares of Northern Oil and Gas from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Mizuho raised their target price on Northern Oil and Gas from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, October 14th. Scotiabank assumed coverage on Northern Oil and Gas in a research note on Wednesday, October 14th. They issued a “sector perform” rating and a $27.00 target price for the company. Citigroup boosted their target price on Northern Oil and Gas from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, October 15th. Finally, Wall Street Zen raised Northern Oil and Gas from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th.

Institutional Investors Weigh In On Northern Oil and Gas

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in shares of Northern Oil and Gas during the second quarter worth approximately $26,769,000. First Trust Advisors LP grew its position in Northern Oil and Gas by 116.8% in the 1st quarter. First Trust Advisors LP now owns 1,167,971 shares of the company’s stock valued at $34,140,000 after purchasing an additional 629,197 shares during the period. Requisite Capital Management LLC bought a new stake in Northern Oil and Gas during the 2nd quarter valued at $10,519,000. Counterpoint Mutual Funds LLC increased its stake in Northern Oil and Gas by 3,057.0% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 427,012 shares of the company’s stock valued at $9,770,000 after purchasing an additional 413,486 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Northern Oil and Gas during the 1st quarter valued at $8,115,000. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Trading Up 0.8%

Shares of NOG stock opened at $28.48 on Tuesday. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -5.50 and a beta of 0.90. The stock has a 50-day moving average of $25.50 and a 200-day moving average of $24.34. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37. Northern Oil and Gas has a 1-year low of $17.18 and a 1-year high of $31.17.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.05). The firm had revenue of $745.24 million during the quarter, compared to analyst estimates of $594.09 million. Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. Northern Oil and Gas’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.37 EPS. On average, equities research analysts forecast that Northern Oil and Gas will post 3.82 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Tuesday, September 29th. Northern Oil and Gas’s dividend payout ratio (DPR) is -34.75%.

About Northern Oil and Gas

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests, allowing it to participate in wells drilled and managed by other exploration and production companies while maintaining exposure to a broad portfolio of oil and gas assets.

Northern Oil and Gas has historically focused on properties in the Williston Basin of North Dakota and Montana and has expanded its operations into other major U.S.