Northern Oil and Gas, Inc. (NYSE:NOG) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given an average rating of “Moderate Buy” by the eleven research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $47.40.

A number of research analysts recently weighed in on the company. Truist Financial lifted their target price on Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday. Morgan Stanley upped their target price on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Bank of America downgraded Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 target price for the company. in a research report on Friday, January 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Finally, Citigroup decreased their target price on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th.

Insider Buying and Selling at Northern Oil and Gas

In other news, insider James B. Evans sold 945 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the sale, the insider now directly owns 83,872 shares in the company, valued at approximately $3,187,136. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Adam A. Dirlam sold 2,088 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was 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 in the company, valued at approximately $4,649,642. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James B. Evans sold 945 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the sale, the insider now owns 83,872 shares in the company, valued at $3,187,136. The disclosure for this sale can be found here. Insiders have sold 10,944 shares of company stock worth $436,614 over the last quarter. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northern Oil and Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NOG. Vanguard Group Inc. increased its position in shares of Northern Oil and Gas by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock valued at $392,480,000 after purchasing an additional 2,827,642 shares during the period. Invesco Ltd. grew its holdings in Northern Oil and Gas by 19.0% during the third 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 during the period. American Century Companies Inc. raised its position in Northern Oil and Gas by 27.0% in the third quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after acquiring an additional 545,297 shares in the last quarter. Westfield Capital Management Co. LP raised its position in Northern Oil and Gas by 9.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock worth $57,003,000 after acquiring an additional 131,448 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in Northern Oil and Gas by 13.8% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,445,517 shares of the company’s stock worth $58,153,000 after acquiring an additional 175,000 shares in the last quarter. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $39.67 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a fifty day moving average of $39.38 and a two-hundred day moving average of $37.35. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 3.95 and a beta of 1.86. Northern Oil and Gas has a fifty-two week low of $29.57 and a fifty-two week high of $43.75.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The business had revenue of $396.35 million for the quarter, compared to analysts’ expectations of $505.67 million. During the same quarter last year, the firm earned $1.76 earnings per share. The business’s revenue was down 31.9% on a year-over-year basis. On average, analysts anticipate that Northern Oil and Gas will post 5.53 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.03%. The ex-dividend date was Wednesday, March 27th. Northern Oil and Gas’s payout ratio is currently 15.94%.

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.