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

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have earned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $44.78.

A number of equities research analysts recently commented on NOG shares. Bank of America dropped their target price on Northern Oil and Gas from $48.00 to $41.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st. Morgan Stanley dropped their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Citigroup reduced 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. Capital One Financial lowered shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Finally, Truist Financial lifted their price objective on 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.

Northern Oil and Gas Trading Up 2.2 %

NYSE:NOG opened at $22.93 on Thursday. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The firm has a fifty day simple moving average of $29.26 and a 200-day simple moving average of $35.64. Northern Oil and Gas has a 12 month low of $19.88 and a 12 month high of $44.31. The company has a market capitalization of $2.27 billion, a P/E ratio of 4.46 and a beta of 1.49.

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

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 7.85%. The ex-dividend date is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is currently 35.02%.

Northern Oil and Gas declared that its board has authorized a share repurchase program on Tuesday, March 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Bahram Akradi bought 40,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the purchase, the director now directly owns 1,662,016 shares of the company’s stock, valued at approximately $46,586,308.48. This trade represents a 2.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nicholas L. O’grady purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the purchase, the chief executive officer now directly owns 226,189 shares in the company, valued at $6,215,673.72. This represents 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 company insiders.

Institutional Trading of Northern Oil and Gas

A number of institutional investors have recently made changes to their positions in NOG. Avior Wealth Management LLC raised its stake in 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. First Horizon Advisors Inc. grew its holdings in shares of Northern Oil and Gas by 9.1% during the fourth quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company’s stock worth $129,000 after buying an additional 289 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of Northern Oil and Gas by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company’s stock valued at $487,000 after buying an additional 298 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in Northern Oil and Gas by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company’s stock worth $386,000 after buying an additional 329 shares in the last quarter. Finally, Legato Capital Management LLC raised its holdings in shares of Northern Oil and Gas by 5.8% during the 4th quarter. Legato Capital Management LLC now owns 6,383 shares of the company’s stock worth $237,000 after acquiring an additional 349 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

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.