Northern Oil and Gas (NYSE:NOG) Stock Rating Lowered by Mizuho

Mizuho downgraded shares of Northern Oil and Gas (NYSE:NOG) from an outperform rating to a neutral rating in a report published on Monday, MarketBeat reports. Mizuho currently has $47.00 price target on the stock.

NOG has been the topic of several other research reports. Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. Piper Sandler increased their price objective on shares of Northern Oil and Gas from $40.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Royal Bank of Canada cut shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. Truist Financial increased their price objective on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday. Finally, Morgan Stanley decreased their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.60.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $39.26 on Monday. The firm’s 50 day moving average is $39.92 and its two-hundred day moving average is $38.76. Northern Oil and Gas has a 52 week low of $31.13 and a 52 week high of $44.31. The firm has a market capitalization of $3.92 billion, a P/E ratio of 4.89 and a beta of 1.85. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. During the same quarter last year, the business earned $1.73 earnings per share. Northern Oil and Gas’s revenue was up 140.0% compared to the same quarter last year. Analysts anticipate that Northern Oil and Gas will post 5.4 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s payout ratio is 20.17%.

Insider Buying and Selling

In related news, insider Erik J. Romslo sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the sale, the insider now owns 105,713 shares in the company, valued at approximately $3,727,440.38. This represents a 1.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were 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 owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This trade represents a 2.27 % decrease in their position. 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. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Hedge funds have recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in Northern Oil and Gas by 1.4% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock worth $849,000 after buying an additional 320 shares in the last quarter. Easterly Investment Partners LLC lifted its position in Northern Oil and Gas by 0.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock worth $1,792,000 after buying an additional 380 shares in the last quarter. Signaturefd LLC lifted its position in Northern Oil and Gas by 100.5% in the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after buying an additional 427 shares in the last quarter. CWM LLC lifted its position in Northern Oil and Gas by 24.8% in the 3rd quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after buying an additional 444 shares in the last quarter. Finally, Arizona State Retirement System lifted its position in Northern Oil and Gas by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock worth $945,000 after buying an additional 555 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

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.