Northern Oil and Gas, Inc. (NYSE:NOG) Receives $39.67 Consensus Target Price from Brokerages

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $39.67.

A number of brokerages recently issued reports on NOG. Citigroup dropped their price objective on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Mizuho dropped their price objective on shares of Northern Oil and Gas from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Piper Sandler dropped their price objective on shares of Northern Oil and Gas from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Capital One Financial lowered shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Finally, Royal Bank of Canada decreased their target price on shares of Northern Oil and Gas from $40.00 to $34.00 and set a “sector perform” rating for the company in a research report on Monday, April 14th.

Institutional Trading of Northern Oil and Gas

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Northern Oil and Gas by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company’s stock worth $418,916,000 after buying an additional 166,501 shares during the period. American Century Companies Inc. grew its position in shares of Northern Oil and Gas by 6.4% during the 1st quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock worth $210,201,000 after buying an additional 415,781 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Northern Oil and Gas by 30.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company’s stock worth $129,939,000 after buying an additional 1,001,493 shares during the period. Channing Capital Management LLC grew its position in shares of Northern Oil and Gas by 8.7% during the 1st quarter. Channing Capital Management LLC now owns 1,920,258 shares of the company’s stock worth $58,049,000 after buying an additional 153,635 shares during the period. Finally, Westfield Capital Management Co. LP grew its position in shares of Northern Oil and Gas by 2.3% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,636,938 shares of the company’s stock worth $49,485,000 after buying an additional 36,507 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Northern Oil and Gas Stock Up 2.8%

Shares of NYSE NOG opened at $30.65 on Friday. The stock has a 50-day moving average price of $25.68 and a two-hundred day moving average price of $32.30. Northern Oil and Gas has a 12 month low of $19.88 and a 12 month high of $44.31. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 5.96 and a beta of 1.51.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.21. The business had revenue of $602.10 million during the quarter, compared to analyst estimates of $568.87 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm’s quarterly revenue was up 51.9% on a year-over-year basis. During the same quarter last year, the business earned $1.28 EPS. As a group, analysts forecast that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Friday, June 27th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is 28.04%.

Northern Oil and Gas announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.