Northern Oil and Gas, Inc. (NYSE:NOG) Receives $48.00 Consensus Target Price from Brokerages

Northern Oil and Gas, Inc. (NYSE:NOG) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $48.00.

Several analysts have issued reports on NOG shares. Morgan Stanley upped their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Citigroup dropped their price target on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Stifel Nicolaus upped their price target on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group upped their price objective on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Piper Sandler upped their price objective on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $40.92 on Monday. The company’s fifty day simple moving average is $40.91 and its 200-day simple moving average is $37.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. The firm has a market cap of $4.14 billion, a PE ratio of 6.63 and a beta of 1.84. Northern Oil and Gas has a 12 month low of $29.57 and a 12 month high of $43.75.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.10. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The firm had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. During the same period in the prior year, the firm posted $1.76 earnings per share. The company’s quarterly revenue was down 31.9% compared to the same quarter last year. Equities research analysts expect that Northern Oil and Gas will post 5.13 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, June 27th will be paid a $0.40 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.60 annualized dividend and a dividend yield of 3.91%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 25.93%.

Insider Activity at Northern Oil and Gas

In related news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total value of $132,300.00. Following the transaction, the insider now directly owns 73,753 shares in the company, valued at $3,097,626. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the sale, the insider now owns 73,753 shares of the company’s stock, valued at $3,097,626. 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 2,088 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the sale, the president now directly owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,933 shares of company stock worth $401,229. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently bought and sold shares of NOG. Commonwealth Equity Services LLC bought a new stake in Northern Oil and Gas during the third quarter worth about $209,000. Teacher Retirement System of Texas lifted its holdings in shares of Northern Oil and Gas by 15.5% in the third quarter. Teacher Retirement System of Texas now owns 13,743 shares of the company’s stock worth $553,000 after acquiring an additional 1,845 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Northern Oil and Gas by 4.8% in the third quarter. Private Advisor Group LLC now owns 6,118 shares of the company’s stock worth $246,000 after acquiring an additional 282 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of Northern Oil and Gas in the third quarter worth about $1,837,000. Finally, Arizona State Retirement System lifted its holdings in shares of Northern Oil and Gas by 10.5% in the third quarter. Arizona State Retirement System now owns 22,512 shares of the company’s stock worth $906,000 after acquiring an additional 2,133 shares during the last quarter. 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.