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

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $48.90.

Several equities research analysts recently weighed in on the company. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Truist Financial boosted their target price on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Bank of America lifted their price target on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Piper Sandler upped their price objective on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Finally, Stifel Nicolaus lifted their target price on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd.

Insider Buying and Selling

In other news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the sale, the chief executive officer now owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.88, for a total value of $52,728.96. Following the completion of the sale, the president now directly owns 107,628 shares of the company’s stock, valued at approximately $4,076,948.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,534 shares of company stock worth $252,144. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently made changes to their positions in NOG. Vanguard Group Inc. grew its position in Northern Oil and Gas by 0.4% during the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after buying an additional 43,940 shares during the period. American Century Companies Inc. boosted its stake in shares of Northern Oil and Gas by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after acquiring an additional 552,645 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Northern Oil and Gas by 45.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after acquiring an additional 789,985 shares during the period. Westfield Capital Management Co. LP grew its position in shares of Northern Oil and Gas by 13.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock valued at $69,430,000 after acquiring an additional 212,030 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Northern Oil and Gas by 5.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock worth $56,850,000 after purchasing an additional 77,537 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Stock Down 0.5 %

Shares of Northern Oil and Gas stock opened at $38.48 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. Northern Oil and Gas has a 12-month low of $31.13 and a 12-month high of $43.80. The company has a market cap of $3.89 billion, a P/E ratio of 6.24 and a beta of 1.79. The company’s fifty day simple moving average is $38.72 and its two-hundred day simple moving average is $38.48.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The firm had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. During the same quarter in the previous year, the firm posted $1.49 EPS. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. Research analysts anticipate that Northern Oil and Gas will post 5.12 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 4.37%. Northern Oil and Gas’s dividend payout ratio (DPR) is 27.23%.

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.