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

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $47.50.

NOG has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target for the company. Truist Financial lifted their price target on Northern Oil and Gas from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Mizuho initiated coverage on Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price target for the company. Royal Bank of Canada cut Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their price objective for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th. Finally, Morgan Stanley lowered their target price on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $41.21 on Friday. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $44.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 4.95 and a beta of 1.85. The business has a 50-day moving average of $39.90 and a 200-day moving average of $38.77.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter last year, the company posted $1.73 earnings per share. Northern Oil and Gas’s quarterly revenue was up 140.0% on a year-over-year basis. As a group, sell-side analysts predict that Northern Oil and Gas will post 5.4 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 20.17%.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares in the company, valued at $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Chad W. Allen sold 1,500 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $40.00, for a total value of $60,000.00. Following the sale, the chief financial officer now owns 83,792 shares of the company’s stock, valued at $3,351,680. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,508 shares of company stock worth $248,113. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOG. Icon Wealth Advisors LLC acquired a new position in shares of Northern Oil and Gas during the third quarter worth $828,000. American Century Companies Inc. increased its holdings in shares of Northern Oil and Gas by 11.0% during the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after buying an additional 552,645 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Northern Oil and Gas by 18.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 453,414 shares of the company’s stock worth $16,853,000 after buying an additional 70,709 shares in the last quarter. Qsemble Capital Management LP acquired a new position in shares of Northern Oil and Gas during the second quarter worth $625,000. Finally, Mutual of America Capital Management LLC increased its holdings in shares of Northern Oil and Gas by 16.3% during the second quarter. Mutual of America Capital Management LLC now owns 443,264 shares of the company’s stock worth $16,476,000 after buying an additional 62,254 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

About Northern Oil and Gas

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.