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

Northern Oil and Gas, Inc. (NYSE:NOG) has been assigned an average rating of “Hold” from the ten brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $33.00.

A number of brokerages have recently issued reports on NOG. Raymond James Financial lowered Northern Oil and Gas from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $37.00 to $35.00 in a research report on Thursday, May 21st. Piper Sandler lifted their target price on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Morgan Stanley reaffirmed an “underweight” rating and set a $29.00 target price (up from $28.00) on shares of Northern Oil and Gas in a research report on Friday, May 22nd. Weiss Ratings lowered shares of Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Finally, Bank of America upped their target price on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th.

Institutional Trading of Northern Oil and Gas

Several hedge funds and other institutional investors have recently bought and sold shares of NOG. Quadrant Capital Group LLC increased its stake in shares of Northern Oil and Gas by 14.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,092 shares of the company’s stock worth $66,000 after acquiring an additional 400 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Northern Oil and Gas by 18.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 3,207 shares of the company’s stock worth $69,000 after acquiring an additional 507 shares during the last quarter. Virtus Investment Advisers LLC increased its stake in shares of Northern Oil and Gas by 8.4% in the fourth quarter. Virtus Investment Advisers LLC now owns 7,394 shares of the company’s stock worth $159,000 after acquiring an additional 572 shares during the last quarter. Isthmus Partners LLC increased its stake in shares of Northern Oil and Gas by 0.8% in the first quarter. Isthmus Partners LLC now owns 82,358 shares of the company’s stock worth $2,407,000 after acquiring an additional 619 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in shares of Northern Oil and Gas by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 91,485 shares of the company’s stock worth $1,963,000 after acquiring an additional 633 shares during the last quarter. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Trading Up 1.7%

Shares of NOG opened at $21.72 on Friday. Northern Oil and Gas has a 12 month low of $20.18 and a 12 month high of $32.62. The stock has a market cap of $2.30 billion, a PE ratio of -3.41 and a beta of 0.75. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53. The stock’s 50-day moving average is $26.27 and its two-hundred day moving average is $24.80.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The business had revenue of $5.03 million for the quarter, compared to analyst estimates of $511.38 million. During the same period in the previous year, the company earned $1.33 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. Equities analysts forecast that Northern Oil and Gas will post 3.37 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 29th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Monday, June 29th. Northern Oil and Gas’s payout ratio is currently -28.26%.

About Northern Oil and Gas

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.