Brokerages Set Northern Oil and Gas, Inc. (NYSE:NOG) PT at $47.40

Northern Oil and Gas, Inc. (NYSE:NOG) has earned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $47.90.

Several equities analysts have commented on NOG shares. Jefferies Financial Group increased their price objective on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Citigroup lowered their price target on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Stifel Nicolaus boosted their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Piper Sandler upped their price objective on Northern Oil and Gas from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Finally, Raymond James dropped their target price on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th.

Northern Oil and Gas Trading Down 0.8 %

Shares of NOG stock opened at $40.41 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of 6.55 and a beta of 1.84. Northern Oil and Gas has a 12-month low of $29.57 and a 12-month high of $43.75. The stock’s 50-day moving average price is $39.94 and its 200-day moving average price is $37.34.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. The business had revenue of $396.35 million for the quarter, compared to the consensus estimate of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The company’s revenue was down 31.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.76 EPS. Equities research analysts predict that Northern Oil and Gas will post 5.46 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, June 27th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.96%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 25.93%.

Insiders Place Their Bets

In other news, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the sale, the insider now directly owns 73,753 shares of the company’s stock, valued at $3,097,626. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider James B. Evans sold 3,150 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the transaction, the insider now directly owns 73,753 shares of the company’s stock, valued at $3,097,626. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the sale, the president now directly owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The disclosure for this sale can be found here. Insiders have sold a total of 10,944 shares of company stock worth $436,614 over the last quarter. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Northern Oil and Gas by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after buying an additional 2,827,642 shares in the last quarter. Invesco Ltd. raised its position in shares of Northern Oil and Gas by 19.0% in the 3rd quarter. Invesco Ltd. now owns 3,786,176 shares of the company’s stock worth $152,318,000 after acquiring an additional 605,197 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Northern Oil and Gas by 27.0% during the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after purchasing an additional 545,297 shares during the last quarter. Capstone Investment Advisors LLC boosted its position in Northern Oil and Gas by 8,679.3% during the first quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock valued at $20,355,000 after purchasing an additional 507,129 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Northern Oil and Gas by 30.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock valued at $51,001,000 after purchasing an additional 324,958 shares during the last quarter. Institutional investors 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.