Brokerages Set Northern Oil and Gas, Inc. (NYSE:NOG) Target Price at $47.20

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $47.20.

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target on the stock. Royal Bank of Canada downgraded shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $43.00 to $45.00 in a research report on Wednesday, November 20th. Truist Financial increased their price target on Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 13th. Piper Sandler cut their price objective on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. 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 report on Monday, September 16th.

Northern Oil and Gas Stock Up 0.1 %

Shares of Northern Oil and Gas stock opened at $39.33 on Tuesday. Northern Oil and Gas has a 1 year low of $31.13 and a 1 year high of $44.31. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 4.72 and a beta of 1.85. The company has a 50-day moving average of $39.71 and a 200 day moving average of $38.67. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share (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 firm had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. During the same period last year, the business earned $1.73 earnings per share. The business’s revenue was up 140.0% on a year-over-year basis. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.27%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Insider Buying and Selling at Northern Oil and Gas

In other news, President Adam A. Dirlam sold 836 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the transaction, the president now directly owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

Institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its holdings in shares of Northern Oil and Gas by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock valued at $206,905,000 after purchasing an additional 552,645 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Northern Oil and Gas by 45.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after purchasing an additional 789,985 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Northern Oil and Gas by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock worth $80,884,000 after purchasing an additional 100,761 shares during the period. Copeland Capital Management LLC increased its position in shares of Northern Oil and Gas by 0.6% during the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock valued at $74,245,000 after purchasing an additional 12,079 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Northern Oil and Gas by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock valued at $34,902,000 after buying an additional 103,314 shares during the period. 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.