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

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $46.89.

A number of equities analysts recently issued reports on the stock. Citigroup dropped their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Piper Sandler lowered their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Royal Bank of Canada lowered their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Truist Financial upped 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 research note on Monday, January 13th. Finally, Capital One Financial cut shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $30.02 on Friday. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 5.84 and a beta of 1.84. The firm’s 50-day moving average is $34.33 and its 200 day moving average is $36.99. Northern Oil and Gas has a 1 year low of $26.60 and a 1 year high of $44.31. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly 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). The firm had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. Sell-side analysts anticipate that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 6.00%. This is a positive change 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 is currently 35.02%.

Northern Oil and Gas announced that its board has initiated a stock buyback program on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other news, President Adam A. Dirlam sold 836 shares of the 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 completion of the transaction, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. This represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas L. O’grady bought 1,000 shares of the stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $27.48 per share, with a total value of $27,480.00. Following the completion of the transaction, the chief executive officer now directly owns 226,189 shares in the company, valued at approximately $6,215,673.72. The trade was a 0.44 % increase in their position. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Northern Oil and Gas in the third quarter worth $25,000. Headlands Technologies LLC bought a new stake in Northern Oil and Gas in the fourth quarter worth $29,000. Blue Trust Inc. lifted its position in Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after buying an additional 801 shares during the last quarter. Avior Wealth Management LLC lifted its position in Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after buying an additional 259 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Northern Oil and Gas in the fourth quarter worth $66,000. 98.80% of the stock is currently owned by institutional investors.

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.