Analysts Set Northern Oil and Gas, Inc. (NYSE:NOG) Target Price at $30.62

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have received a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $30.6250.

Several brokerages recently weighed in on NOG. Mizuho upgraded Northern Oil and Gas to a “hold” rating in a research note on Friday, July 31st. Morgan Stanley set a $25.00 price target on Northern Oil and Gas and gave the company an “underweight” rating in a research note on Monday, June 29th. Raymond James Financial restated an “outperform” rating and set a $28.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Johnson Rice lowered shares of Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 price objective for the company. in a research report on Wednesday, May 20th.

Insider Activity

In related news, Director Bahram Akradi acquired 25,760 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were purchased at an average cost of $19.40 per share, with a total value of $499,744.00. Following the completion of the acquisition, the director directly owned 1,713,444 shares of the company’s stock, valued at $33,240,813.60. This represents a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in Northern Oil and Gas by 55.1% during the 1st quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock worth $1,233,000 after purchasing an additional 14,492 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Northern Oil and Gas by 3.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,334 shares of the company’s stock worth $1,763,000 after buying an additional 1,865 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after acquiring an additional 713 shares during the period. Empowered Funds LLC grew its holdings in Northern Oil and Gas by 5.0% during the first quarter. Empowered Funds LLC now owns 65,217 shares of the company’s stock worth $1,972,000 after acquiring an additional 3,124 shares during the period. Finally, Intech Investment Management LLC raised its position in Northern Oil and Gas by 41.8% during the first quarter. Intech Investment Management LLC now owns 46,453 shares of the company’s stock valued at $1,404,000 after acquiring an additional 13,690 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Up 1.1%

Shares of Northern Oil and Gas stock opened at $26.66 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The company has a market cap of $2.84 billion, a P/E ratio of -5.15 and a beta of 0.73. The firm’s 50 day moving average price is $21.98 and its 200-day moving average price is $24.20. Northern Oil and Gas has a 52-week low of $17.18 and a 52-week high of $31.17.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Thursday, August 6th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.05). Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The firm had revenue of $745.24 million during the quarter, compared to analyst estimates of $594.09 million. During the same quarter last year, the business earned $1.37 earnings per share. Northern Oil and Gas’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts predict that Northern Oil and Gas will post 3.79 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 29th. This represents a $1.80 dividend on an annualized basis and a yield of 6.8%. Northern Oil and Gas’s dividend payout ratio is presently -34.75%.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.