Brokerages Set Northern Oil and Gas, Inc. (NYSE:NOG) PT at $36.89

Northern Oil and Gas, Inc. (NYSE:NOG) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $36.8889.

Several brokerages recently weighed in on NOG. Morgan Stanley downgraded shares of Northern Oil and Gas from a “positive” rating to an “underweight” rating and reduced their price target for the company from $29.00 to $27.00 in a research report on Monday. Bank of America lifted their target price on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Mizuho cut their target price on shares of Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, July 16th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Finally, Citigroup lifted their target price on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th.

Northern Oil and Gas Price Performance

Shares of NOG opened at $25.0640 on Wednesday. The company has a market capitalization of $2.45 billion, a P/E ratio of 4.14 and a beta of 1.55. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average of $27.76 and a 200 day moving average of $28.19. Northern Oil and Gas has a twelve month low of $19.88 and a twelve month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.50. The company had revenue of $706.81 million during the quarter, compared to the consensus estimate of $555.54 million. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 earnings per share. As a group, equities research analysts anticipate that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Monday, September 29th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas’s payout ratio is 29.70%.

Institutional Investors Weigh In On Northern Oil and Gas

Large investors have recently added to or reduced their stakes in the stock. DLD Asset Management LP boosted its stake in shares of Northern Oil and Gas by 42.9% during the 2nd quarter. DLD Asset Management LP now owns 25,000,000 shares of the company’s stock worth $708,750,000 after acquiring an additional 7,500,000 shares during the last quarter. Nuveen LLC purchased a new position in shares of Northern Oil and Gas during the 1st quarter worth $36,288,000. Dimensional Fund Advisors LP boosted its stake in shares of Northern Oil and Gas by 30.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company’s stock worth $129,939,000 after acquiring an additional 1,001,493 shares during the last quarter. BW Gestao de Investimentos Ltda. purchased a new position in shares of Northern Oil and Gas during the 1st quarter worth $14,137,000. Finally, American Century Companies Inc. boosted its stake in shares of Northern Oil and Gas by 6.4% during the 1st quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock worth $210,201,000 after acquiring an additional 415,781 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.