Northern Oil and Gas’ (NOG) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Northern Oil and Gas (NYSE:NOG) in a report issued on Monday, MarketBeat.com reports. Piper Sandler currently has a $25.00 price target on the stock, down from their prior price target of $31.00.

Other analysts also recently issued reports about the stock. Royal Bank Of Canada cut their price objective on shares of Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Monday, July 14th. Bank of America increased their price objective on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Citigroup increased their price objective on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Raymond James Financial reissued a “strong-buy” rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Finally, Mizuho cut their price objective on shares of Northern Oil and Gas from $33.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 16th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.11.

Northern Oil and Gas Stock Down 2.3%

Shares of Northern Oil and Gas stock opened at $25.08 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 0.92. The company has a 50-day moving average of $28.98 and a 200 day moving average of $29.37. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 4.14 and a beta of 1.55. Northern Oil and Gas has a 1 year low of $19.88 and a 1 year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.50. The company had revenue of $706.81 million during the quarter, compared to analyst estimates of $555.54 million. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. Northern Oil and Gas’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the business earned $1.46 EPS. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 29.70%.

Hedge Funds Weigh In On Northern Oil and Gas

Institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its stake in shares of Northern Oil and Gas by 25.3% in the 1st quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company’s stock worth $2,932,000 after purchasing an additional 19,586 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Northern Oil and Gas by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 494,508 shares of the company’s stock worth $14,949,000 after purchasing an additional 12,711 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Northern Oil and Gas by 1.9% in the 1st quarter. New York State Common Retirement Fund now owns 1,092,152 shares of the company’s stock worth $33,016,000 after purchasing an additional 20,186 shares during the period. Woodline Partners LP bought a new position in shares of Northern Oil and Gas in the 4th quarter worth approximately $997,000. Finally, GAMMA Investing LLC lifted its stake in shares of Northern Oil and Gas by 2,067.5% in the 1st quarter. GAMMA Investing LLC now owns 45,950 shares of the company’s stock worth $1,520,000 after purchasing an additional 43,830 shares during the period. Institutional investors own 98.80% of the company’s stock.

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.