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

Northern Oil and Gas, Inc. (NYSE:NOG) has been given a consensus rating of “Moderate Buy” by the ten research firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $46.89.

NOG has been the subject of a number of research analyst reports. Morgan Stanley set a $43.00 target price on shares of Northern Oil and Gas in a report on Wednesday, January 22nd. Truist Financial increased their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. Capital One Financial cut shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Piper Sandler dropped their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Citigroup dropped their target price on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, February 25th.

Northern Oil and Gas Trading Down 2.9 %

NYSE NOG opened at $27.60 on Wednesday. The stock has a market capitalization of $2.74 billion, a P/E ratio of 5.37 and a beta of 1.81. Northern Oil and Gas has a 52-week low of $26.82 and a 52-week high of $44.31. The firm has a 50-day moving average price of $36.65 and a 200 day moving average price of $37.92. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company had revenue of $545.47 million during the quarter, compared to analysts’ expectations of $552.34 million. Equities research analysts expect that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.52%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio (DPR) is 35.02%.

Insider Transactions at Northern Oil and Gas

In other news, Director Bahram Akradi bought 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the completion of the transaction, the director now owns 1,662,016 shares in the company, valued at $46,586,308.48. The trade was a 2.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the sale, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

A number of hedge funds have recently bought and sold shares of NOG. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas during the third quarter worth approximately $25,000. Headlands Technologies LLC acquired a new stake in Northern Oil and Gas during the fourth quarter worth approximately $29,000. Signaturefd LLC boosted its holdings in shares of Northern Oil and Gas by 100.5% in the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after purchasing an additional 801 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after purchasing an additional 259 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

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.