Northern Oil and Gas (NYSE:NOG) Now Covered by Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas (NYSE:NOG) in a report issued on Thursday, StockNewsAPI reports. The firm issued a buy rating and a $53.00 price objective on the stock.

Several other research firms have also recently weighed in on NOG. Mizuho began coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They issued an outperform rating and a $47.00 price objective on the stock. Morgan Stanley reduced their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an equal weight rating for the company in a research report on Monday, September 16th. Bank of America lifted their price objective 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. Truist Financial reduced their target price on shares of Northern Oil and Gas from $55.00 to $44.00 and set a buy rating for the company in a research report on Monday, September 30th. Finally, Piper Sandler lowered their price target on shares of Northern Oil and Gas from $45.00 to $40.00 and set a neutral rating on the stock in a report on Thursday, August 15th. 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 given a strong buy rating to the company. According to MarketBeat, Northern Oil and Gas presently has an average rating of Moderate Buy and a consensus target price of $46.80.

Northern Oil and Gas Price Performance

NOG opened at $39.66 on Thursday. Northern Oil and Gas has a 1 year low of $31.13 and a 1 year 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 company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 6.43 and a beta of 1.81. The firm’s fifty day moving average price is $37.65 and its two-hundred day moving average price is $39.09.

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 firm had revenue of $560.80 million during the quarter, compared to analyst estimates of $542.28 million. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted $1.49 EPS. As a group, analysts anticipate that Northern Oil and Gas will post 5.29 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a dividend of $0.42 per share. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.68 dividend on an annualized basis and a yield of 4.24%. Northern Oil and Gas’s payout ratio is presently 27.23%.

Insider Transactions at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction on 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 directly owns 105,713 shares in the company, valued at $3,727,440.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Adam A. Dirlam sold 2,508 shares of the 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 completion of the sale, the president now owns 107,876 shares in the company, valued at $4,153,226. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,508 shares of company stock valued at $168,013 over the last three months. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOG. GAMMA Investing LLC boosted its position in shares of Northern Oil and Gas by 91.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after acquiring an additional 528 shares during the last quarter. TFO Wealth Partners LLC lifted its position in Northern Oil and Gas by 112,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after purchasing an additional 1,121 shares during the last quarter. Quarry LP grew its stake in Northern Oil and Gas by 338.8% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after buying an additional 874 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Northern Oil and Gas by 88.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock worth $82,000 after buying an additional 1,033 shares during the last quarter. Finally, Marks Group Wealth Management Inc purchased a new stake in shares of Northern Oil and Gas during the 1st quarter valued at $215,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

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.