Northern Oil and Gas, Inc. (NYSE:NOG) Receives $47.56 Consensus PT from Brokerages

Northern Oil and Gas, Inc. (NYSE:NOG) has been given an average recommendation of “Moderate Buy” by the nine ratings firms that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $47.56.

Several brokerages have commented on NOG. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 price target on shares of Northern Oil and Gas in a research report on Friday, January 10th. Truist Financial boosted their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Piper Sandler reduced their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Finally, Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research report on Monday, December 16th.

Northern Oil and Gas Price Performance

NOG opened at $35.18 on Friday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 4.22 and a beta of 1.82. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The stock’s 50-day moving average price is $38.90 and its 200 day moving average price is $38.63. Northern Oil and Gas has a 12-month low of $31.94 and a 12-month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. During the same quarter last year, the firm posted $1.73 earnings per share. The business’s revenue for the quarter was up 140.0% compared to the same quarter last year. As a group, sell-side analysts expect that Northern Oil and Gas will post 5.3 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.12%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio (DPR) is 20.17%.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the sale, the president now owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Northern Oil and Gas

A number of large investors have recently made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new position in Northern Oil and Gas during the third quarter worth about $25,000. Signaturefd LLC raised 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 buying an additional 427 shares during the period. Quarry LP increased its position in shares of Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after acquiring an additional 874 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after acquiring an additional 801 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings in shares of Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after acquiring an additional 259 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.