Northern Oil and Gas, Inc. (NYSE:NOG) Receives $46.80 Consensus Target Price from Analysts

Northern Oil and Gas, Inc. (NYSE:NOG) has been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $46.80.

A number of research analysts have weighed in on NOG shares. Bank of America raised their price objective on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. StockNews.com cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Morgan Stanley decreased their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. Finally, Truist Financial reduced their price objective on Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, September 30th.

Northern Oil and Gas Stock Performance

NOG opened at $36.47 on Thursday. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 6.45 and a beta of 1.81. The firm’s fifty day simple moving average is $37.35 and its two-hundred day simple moving average is $38.78. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $43.80.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The company had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. During the same period in the previous year, the firm posted $1.49 EPS. Northern Oil and Gas’s revenue was up 17.7% compared to the same quarter last year. Equities analysts anticipate that Northern Oil and Gas will post 5.43 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, September 27th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.61%. Northern Oil and Gas’s dividend payout ratio is currently 29.73%.

Insider Buying and Selling

In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the transaction, the insider now owns 105,713 shares of the company’s stock, valued at $3,727,440.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the transaction, the insider now directly owns 105,713 shares in the company, valued at $3,727,440.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the transaction, the president now owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,008 shares of company stock valued at $228,013. 2.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NOG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in Northern Oil and Gas by 1.4% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock valued at $849,000 after buying an additional 320 shares during the period. Signaturefd LLC boosted its holdings in Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares during the period. CWM LLC grew its stake in Northern Oil and Gas by 24.8% during the 3rd quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after purchasing an additional 444 shares in the last quarter. GAMMA Investing LLC increased its holdings in Northern Oil and Gas by 91.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after purchasing an additional 528 shares during the period. Finally, Arizona State Retirement System raised its position in Northern Oil and Gas by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock valued at $945,000 after purchasing an additional 555 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

About Northern Oil and Gas

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.