Northern Oil and Gas, Inc. (NYSE:NOG) Given Average Rating of “Hold” by Analysts

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been assigned a consensus recommendation of “Hold” from the ten research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $32.3750.

A number of equities analysts have recently commented on NOG shares. Weiss Ratings downgraded Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Wall Street Zen upgraded Northern Oil and Gas from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Piper Sandler raised their price objective on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Morgan Stanley restated an “underweight” rating and issued a $29.00 price objective (up from $28.00) on shares of Northern Oil and Gas in a report on Friday, May 22nd. Finally, Bank of America raised their price objective on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $19.35 on Tuesday. The stock’s 50-day moving average is $23.54 and its 200-day moving average is $24.64. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -3.04 and a beta of 0.68. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.53 and a quick ratio of 0.53. Northern Oil and Gas has a 12 month low of $18.75 and a 12 month high of $31.50.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $5.03 million for the quarter, compared to the consensus estimate of $511.38 million. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business posted $1.33 EPS. Equities analysts anticipate that Northern Oil and Gas will post 3.42 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, June 29th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 9.3%. The ex-dividend date is Monday, June 29th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently -28.26%.

Institutional Investors Weigh In On Northern Oil and Gas

Several hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC raised its holdings in shares of Northern Oil and Gas by 1,621.9% during the 1st quarter. NewEdge Advisors LLC now owns 18,114 shares of the company’s stock valued at $529,000 after buying an additional 17,062 shares during the period. Bank of America Corp DE raised its holdings in shares of Northern Oil and Gas by 18.5% during the 1st quarter. Bank of America Corp DE now owns 1,245,639 shares of the company’s stock valued at $36,410,000 after buying an additional 194,861 shares during the period. California State Teachers Retirement System raised its holdings in shares of Northern Oil and Gas by 25.1% during the 1st quarter. California State Teachers Retirement System now owns 110,016 shares of the company’s stock valued at $3,216,000 after buying an additional 22,102 shares during the period. Empowered Funds LLC raised its holdings in shares of Northern Oil and Gas by 5.3% during the 1st quarter. Empowered Funds LLC now owns 403,127 shares of the company’s stock valued at $11,783,000 after buying an additional 20,413 shares during the period. Finally, Maverick Capital Ltd. purchased a new stake in shares of Northern Oil and Gas during the 1st quarter valued at about $602,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

About Northern Oil and Gas

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.