Northern Oil and Gas (NYSE:NOG) Sets New 1-Year Low – What’s Next?

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) hit a new 52-week low on Wednesday . The stock traded as low as $26.82 and last traded at $27.60, with a volume of 3186082 shares. The stock had previously closed at $28.42.

Analysts Set New Price Targets

Several brokerages recently weighed in on NOG. Royal Bank of Canada reduced their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 13th. Citigroup cut their target price on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Capital One Financial cut Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Piper Sandler cut their target price on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Finally, Morgan Stanley set a $43.00 target price on Northern Oil and Gas in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.89.

Northern Oil and Gas Price Performance

The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The company has a market capitalization of $2.67 billion, a PE ratio of 5.24 and a beta of 1.84. The firm has a 50-day moving average of $36.29 and a 200 day moving average of $37.77.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business had revenue of $545.47 million for the quarter, compared to analysts’ expectations of $552.34 million. As a group, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be issued a $0.45 dividend. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 6.68%. Northern Oil and Gas’s dividend payout ratio is currently 35.02%.

Insider Buying and Selling at Northern Oil and Gas

In other news, Director Bahram Akradi bought 40,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the acquisition, the director now owns 1,662,016 shares in the company, valued at $46,586,308.48. The trade was a 2.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Adam A. Dirlam sold 836 shares of the stock in a transaction dated 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 transaction, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in Northern Oil and Gas in the third quarter valued at about $25,000. Headlands Technologies LLC bought a new position in shares of Northern Oil and Gas in the fourth quarter worth about $29,000. Blue Trust Inc. raised its stake in shares of Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after buying an additional 801 shares during the period. Avior Wealth Management LLC raised its stake in shares of Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after buying an additional 259 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Northern Oil and Gas in the fourth quarter worth about $66,000. 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.