Northern Oil and Gas (NYSE:NOG) Stock Price Down 6.3% – Should You Sell?

Northern Oil and Gas, Inc. (NYSE:NOG) shares traded down 6.3% on Monday . The company traded as low as $17.92 and last traded at $17.9650. Approximately 1,456,111 shares were traded during trading, a decline of 45% from the average session volume of 2,637,235 shares. The stock had previously closed at $19.17.

Wall Street Analysts Forecast Growth

NOG has been the subject of several analyst reports. Royal Bank Of Canada raised their price target on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th. Bank of America upped their price target on Northern Oil and Gas from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Johnson Rice downgraded shares of Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 target price for the company. in a research report on Wednesday, May 20th. Weiss Ratings downgraded Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen lowered shares of Northern Oil and Gas from a “buy” rating to a “hold” rating in a research note on Saturday. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.88.

Northern Oil and Gas Stock Down 5.3%

The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a fifty day moving average price of $22.98 and a two-hundred day moving average price of $24.50. The company has a market cap of $1.97 billion, a P/E ratio of -2.85 and a beta of 0.68.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The firm had revenue of $5.03 million during the quarter, compared to analyst estimates of $511.38 million. During the same quarter in the prior year, the business posted $1.33 EPS. The business’s revenue was down 6.2% compared to the same quarter last year. On average, research analysts expect that Northern Oil and Gas, Inc. will post 3.42 EPS for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $1.80 annualized dividend and a yield of 9.9%. Northern Oil and Gas’s payout ratio is currently -28.26%.

Insider Buying and Selling at Northern Oil and Gas

In related news, Director Bahram Akradi purchased 25,760 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, June 22nd. The stock was bought at an average price of $19.40 per share, for a total transaction of $499,744.00. Following the completion of the transaction, the director owned 1,713,444 shares in the company, valued at $33,240,813.60. This represents a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ascentis Independent Advisors bought a new position in shares of Northern Oil and Gas during the 1st quarter worth $33,000. Jones Financial Companies Lllp increased its holdings in shares of Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after purchasing an additional 713 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Northern Oil and Gas by 572.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock valued at $36,000 after acquiring an additional 1,432 shares in the last quarter. Plato Investment Management Ltd bought a new stake in Northern Oil and Gas during the fourth quarter valued at approximately $43,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Northern Oil and Gas by 429.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock worth $43,000 after acquiring an additional 1,228 shares during the last quarter. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.