Northern Oil and Gas (NYSE:NOG) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Northern Oil and Gas (NYSE:NOG) from a sell rating to a hold rating in a research report released on Monday morning.

A number of other analysts have also recently commented on NOG. Morgan Stanley boosted their price target on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Piper Sandler boosted their price target on Northern Oil and Gas from $38.00 to $42.00 and gave the stock a neutral rating in a research report on Friday, April 19th. Jefferies Financial Group boosted their price objective on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the stock a buy rating in a report on Thursday, March 21st. Citigroup decreased their price objective on shares of Northern Oil and Gas from $50.00 to $45.00 and set a buy rating for the company in a report on Wednesday, February 28th. Finally, Raymond James decreased their price objective on shares of Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $47.30.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $42.97 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.32 and a current ratio of 1.32. The stock’s 50 day simple moving average is $38.60 and its two-hundred day simple moving average is $37.27. Northern Oil and Gas has a fifty-two week low of $29.57 and a fifty-two week high of $43.64. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 4.28 and a beta of 1.86.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The company had revenue of $543.40 million during the quarter, compared to the consensus estimate of $555.31 million. During the same period in the prior year, the firm earned $1.43 earnings per share. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, analysts expect that Northern Oil and Gas will post 5.47 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a yield of 3.72%. Northern Oil and Gas’s dividend payout ratio is presently 15.94%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the sale, the president now directly owns 122,359 shares in the company, valued at approximately $4,649,642. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, President Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the sale, the president now directly owns 122,359 shares in the company, valued at approximately $4,649,642. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James B. Evans sold 945 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the sale, the insider now owns 83,872 shares of the company’s stock, valued at $3,187,136. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,944 shares of company stock worth $436,614. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Simplicity Wealth LLC bought a new position in Northern Oil and Gas in the 1st quarter worth $553,000. Allspring Global Investments Holdings LLC boosted its holdings in 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 buying an additional 77,537 shares during the period. Hennion & Walsh Asset Management Inc. bought a new position in Northern Oil and Gas in the 1st quarter worth $267,000. Doliver Advisors LP boosted its holdings in Northern Oil and Gas by 5.6% in the 1st quarter. Doliver Advisors LP now owns 28,072 shares of the company’s stock worth $1,114,000 after buying an additional 1,490 shares during the period. Finally, Range Financial Group LLC boosted its holdings in Northern Oil and Gas by 12.6% in the 1st quarter. Range Financial Group LLC now owns 7,289 shares of the company’s stock worth $289,000 after buying an additional 816 shares during the period. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Northern Oil and Gas Company Profile

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.