Northern Oil and Gas, Inc. (NYSE:NOG) Receives Average Rating of “Hold” from Analysts

Northern Oil and Gas, Inc. (NYSE:NOG) has received an average rating of “Hold” from the ten analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $31.8750.

Several research firms have recently commented on NOG. Weiss Ratings downgraded Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Citigroup reduced their price target on Northern Oil and Gas from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Johnson Rice lowered Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 price objective on the stock. in a report on Wednesday, May 20th. Raymond James Financial set a $30.00 price objective on Northern Oil and Gas and gave the company an “outperform” rating in a report on Monday, June 15th. Finally, Morgan Stanley set a $25.00 price objective on Northern Oil and Gas and gave the stock an “underweight” rating in a research report on Monday, June 29th.

Insider Buying and Selling

In other Northern Oil and Gas news, Director Bahram Akradi purchased 25,760 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $19.40 per share, with a total value of $499,744.00. Following the completion of the transaction, the director owned 1,713,444 shares in the company, valued at $33,240,813.60. The trade was a 1.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kennedy Capital Management LLC increased its holdings in Northern Oil and Gas by 17.0% in the 4th quarter. Kennedy Capital Management LLC now owns 884,006 shares of the company’s stock valued at $18,980,000 after buying an additional 128,545 shares during the period. Vanguard Group Inc. raised its position in shares of Northern Oil and Gas by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 10,873,455 shares of the company’s stock valued at $233,453,000 after buying an additional 141,499 shares in the last quarter. Tributary Capital Management LLC lifted its holdings in shares of Northern Oil and Gas by 27.7% during the 4th quarter. Tributary Capital Management LLC now owns 837,685 shares of the company’s stock worth $17,985,000 after acquiring an additional 181,557 shares during the period. Easterly Investment Partners LLC lifted its holdings in shares of Northern Oil and Gas by 32.7% during the 4th quarter. Easterly Investment Partners LLC now owns 187,146 shares of the company’s stock worth $4,018,000 after acquiring an additional 46,136 shares during the period. Finally, Collar Capital Management LLC acquired a new stake in shares of Northern Oil and Gas during the 4th quarter worth approximately $2,877,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Stock Performance

Shares of NOG stock traded down $0.24 during midday trading on Friday, hitting $18.55. 2,137,980 shares of the company were exchanged, compared to its average volume of 3,780,605. Northern Oil and Gas has a 52 week low of $17.18 and a 52 week high of $31.17. The firm has a market capitalization of $2.02 billion, a P/E ratio of -2.91 and a beta of 0.69. The firm’s 50 day moving average price is $21.36 and its two-hundred day moving average price is $24.17. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. The firm had revenue of $5.03 million for the quarter, compared to analysts’ expectations of $511.38 million. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. As a group, equities research analysts anticipate that Northern Oil and Gas will post 3.25 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 29th will be paid a $0.45 dividend. The ex-dividend date is Monday, June 29th. This represents a $1.80 annualized dividend and a dividend yield of 9.7%. Northern Oil and Gas’s dividend payout ratio is -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.