Northern Oil and Gas (NYSE:NOG) Research Coverage Started at Mizuho

Mizuho assumed coverage on shares of Northern Oil and Gas (NYSE:NOG) in a research note published on Thursday morning, Marketbeat reports. The firm issued an outperform rating and a $47.00 target price on the stock.

Several other research analysts have also recently weighed in on NOG. Truist Financial increased their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Morgan Stanley dropped their price target on Northern Oil and Gas from $42.00 to $39.00 and set an equal weight rating for the company in a research note on Monday, September 16th. Piper Sandler reduced their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a neutral rating on the stock in a research note on Thursday, August 15th. Royal Bank of Canada restated an outperform rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. Finally, Bank of America increased their price target on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $47.70.

Northern Oil and Gas Stock Down 0.4 %

Northern Oil and Gas stock opened at $37.11 on Thursday. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $43.80. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 6.01 and a beta of 1.81. The company’s 50 day simple moving average is $38.37 and its 200 day simple moving average is $39.14.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.20 by $0.26. The business had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.49 EPS. As a group, sell-side analysts anticipate that Northern Oil and Gas will post 5.41 EPS for the current year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a $0.42 dividend. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.53%. Northern Oil and Gas’s payout ratio is presently 27.23%.

Insider Transactions at Northern Oil and Gas

In other news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the transaction, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.88, for a total transaction of $52,728.96. Following the completion of the transaction, the president now owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the transaction, the chief executive officer now owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Northern Oil and Gas by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after buying an additional 43,940 shares in the last quarter. American Century Companies Inc. increased its position in shares of Northern Oil and Gas by 11.0% during the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after acquiring an additional 552,645 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Northern Oil and Gas by 45.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after acquiring an additional 789,985 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Northern Oil and Gas by 13.8% in the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock valued at $69,430,000 after acquiring an additional 212,030 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Northern Oil and Gas by 5.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock valued at $56,850,000 after purchasing an additional 77,537 shares during the period. Hedge funds and other 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.