Brokerages Set Northern Oil and Gas, Inc. (NYSE:NOG) PT at $47.50

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

Several research analysts recently weighed in on the stock. Piper Sandler cut their target price on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday. Mizuho lowered 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 research report on Monday. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 target price on the stock. Morgan Stanley cut their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, Royal Bank of Canada downgraded Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $43.00 to $45.00 in a research report on Wednesday, November 20th.

Northern Oil and Gas Trading Down 2.0 %

Shares of Northern Oil and Gas stock opened at $38.48 on Friday. Northern Oil and Gas has a 1 year low of $31.13 and a 1 year high of $44.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The business has a 50 day moving average price of $39.89 and a 200 day moving average price of $38.74. The company has a market capitalization of $3.84 billion, a P/E ratio of 4.62 and a beta of 1.85.

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

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s payout ratio is currently 20.17%.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares in the company, valued at $4,153,226. The trade was a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Erik J. Romslo sold 1,500 shares of the firm’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 approximately $3,727,440.38. This represents a 1.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,508 shares of company stock worth $248,113 over the last three months. 2.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in shares of Northern Oil and Gas during the 3rd quarter valued at about $25,000. Signaturefd LLC grew its position in Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after acquiring an additional 427 shares in the last quarter. Quarry LP raised its stake in shares of Northern Oil and Gas by 338.8% during the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after purchasing an additional 874 shares during the period. GAMMA Investing LLC lifted its position in shares of Northern Oil and Gas by 58.6% during the third quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock worth $62,000 after purchasing an additional 647 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Northern Oil and Gas by 122.6% in the third quarter. Covestor Ltd now owns 1,903 shares of the company’s stock valued at $67,000 after purchasing an additional 1,048 shares during the period. Hedge funds and other 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.