Northern Oil and Gas, Inc. (NYSE:NOG) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $47.20.

Several analysts have recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price objective on shares of Northern Oil and Gas in a report on Friday. Piper Sandler reduced their price objective on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Monday, December 16th. Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 target price for the company. Finally, Truist Financial upped their price target on Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 13th.

Insider Buying and Selling

In other news, President Adam A. Dirlam sold 836 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were 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 directly owns 96,223 shares of the company’s stock, valued at $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its stake in shares of Northern Oil and Gas by 1.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 141,100 shares of the company’s stock valued at $5,243,000 after buying an additional 2,636 shares during the period. Range Financial Group LLC acquired a new position in shares of Northern Oil and Gas in the fourth quarter worth $332,000. Insight Wealth Strategies LLC raised its holdings in shares of Northern Oil and Gas by 2.7% during the fourth quarter. Insight Wealth Strategies LLC now owns 28,550 shares of the company’s stock worth $1,061,000 after acquiring an additional 751 shares in the last quarter. Doliver Advisors LP boosted its position in Northern Oil and Gas by 2.9% during the fourth quarter. Doliver Advisors LP now owns 28,667 shares of the company’s stock valued at $1,065,000 after purchasing an additional 800 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Northern Oil and Gas by 21.0% in the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after purchasing an additional 368 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $39.93 on Tuesday. The stock has a market cap of $3.99 billion, a P/E ratio of 4.79 and a beta of 1.85. The firm’s 50-day simple moving average is $39.79 and its 200 day simple moving average is $38.68. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $44.31. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. Northern Oil and Gas’s revenue was up 140.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. Equities analysts expect that Northern Oil and Gas will post 5.4 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a $0.42 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.21%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

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.