Northern Oil and Gas (NYSE:NOG) Sets New 1-Year Low – What’s Next?

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $31.78 and last traded at $32.04, with a volume of 2150975 shares. The stock had previously closed at $32.19.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Monday, December 16th. Royal Bank of Canada reduced their price target 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 report on Thursday, February 13th. Truist Financial boosted their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Capital One Financial downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Finally, Citigroup cut their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.89.

Northern Oil and Gas Stock Down 1.4 %

The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The stock has a market capitalization of $3.12 billion, a PE ratio of 6.12 and a beta of 1.82. The company has a 50 day moving average price of $36.96 and a 200-day moving average price of $38.08.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The company had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. As a group, analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 5.72%. Northern Oil and Gas’s payout ratio is currently 35.02%.

Insiders Place Their Bets

In related news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction dated Monday, January 6th. The shares were 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 of the company’s stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Several large investors have recently made changes to their positions in NOG. Icon Wealth Advisors LLC bought a new stake in Northern Oil and Gas in the third quarter worth $828,000. State of Alaska Department of Revenue boosted its stake in Northern Oil and Gas by 36.1% in the 4th quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company’s stock worth $2,877,000 after purchasing an additional 20,550 shares in the last quarter. Principal Financial Group Inc. grew its position in Northern Oil and Gas by 2.5% during the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company’s stock valued at $17,904,000 after purchasing an additional 11,690 shares during the last quarter. James Investment Research Inc. bought a new stake in Northern Oil and Gas during the 4th quarter valued at about $393,000. Finally, Heritage Family Offices LLP purchased a new position in Northern Oil and Gas in the fourth quarter worth about $244,000. 98.80% of the stock is currently owned by hedge funds and other 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.