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 an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $47.20.

Several brokerages have issued reports on NOG. Royal Bank of Canada cut Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. Piper Sandler cut their price objective on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Monday, December 16th. Morgan Stanley cut their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Finally, Truist Financial upped their price objective on Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 13th.

Northern Oil and Gas Trading Up 0.4 %

NYSE:NOG opened at $38.47 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. Northern Oil and Gas has a one year low of $31.13 and a one year high of $44.31. The business’s 50-day simple moving average is $39.49 and its 200 day simple moving average is $38.63. The stock has a market cap of $3.84 billion, a price-to-earnings 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 EPS for the quarter, topping the consensus estimate 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 business had revenue of $753.64 million for the quarter, compared to analysts’ expectations of $540.23 million. During the same quarter in the previous year, the firm posted $1.73 earnings per share. The company’s revenue was up 140.0% compared to the same quarter last year. As a group, sell-side analysts predict that Northern Oil and Gas will post 5.4 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Hedge Funds Weigh In On Northern Oil and Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Northern Oil and Gas by 1.5% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,201 shares of the company’s stock worth $822,000 after buying an additional 350 shares in the last quarter. GAMMA Investing LLC grew its holdings in Northern Oil and Gas by 21.0% in the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock worth $79,000 after buying an additional 368 shares in the last quarter. Easterly Investment Partners LLC grew its holdings in Northern Oil and Gas by 0.8% in the 3rd quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock worth $1,792,000 after buying an additional 380 shares in the last quarter. Signaturefd LLC grew its holdings in Northern Oil and Gas by 100.5% in the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after buying an additional 427 shares in the last quarter. Finally, CWM LLC grew its holdings in Northern Oil and Gas by 24.8% in the 3rd quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after buying an additional 444 shares in the last quarter. 98.80% of the stock is owned by institutional investors.

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.