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

Northern Oil and Gas, Inc. (NYSE:NOG) has been given an average recommendation of “Hold” by the ten research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $33.00.

Several brokerages recently issued reports on NOG. Morgan Stanley reissued an “underweight” rating and set a $29.00 target price (up from $28.00) on shares of Northern Oil and Gas in a research note on Friday. Weiss Ratings lowered shares of Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Johnson Rice lowered shares of Northern Oil and Gas from an “accumulate” rating to a “hold” rating and set a $36.00 target price on the stock. in a research note on Wednesday, May 20th. Royal Bank Of Canada increased their target price on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 8th. Finally, Citigroup lowered their price objective on shares of Northern Oil and Gas from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th.

Northern Oil and Gas Stock Down 5.8%

Shares of NYSE NOG opened at $22.37 on Friday. The firm has a market cap of $2.37 billion, a PE ratio of -3.51 and a beta of 0.75. Northern Oil and Gas has a 12-month low of $20.18 and a 12-month high of $32.62. The company’s fifty day simple moving average is $26.51 and its 200 day simple moving average is $24.79. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.43.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The business had revenue of $5.03 million for the quarter, compared to analyst estimates of $511.38 million. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. Northern Oil and Gas’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 earnings per share. As a group, sell-side analysts forecast that Northern Oil and Gas will post 3.38 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, June 29th. This represents a $1.80 annualized dividend and a yield of 8.0%. Northern Oil and Gas’s dividend payout ratio is presently -28.26%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp raised its holdings in Northern Oil and Gas by 181.0% during the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock worth $33,000 after buying an additional 713 shares during the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Northern Oil and Gas in the first quarter valued at about $33,000. EverSource Wealth Advisors LLC raised its holdings in shares of Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock valued at $43,000 after purchasing an additional 1,228 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Northern Oil and Gas by 85.7% in the second quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock valued at $44,000 after purchasing an additional 702 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Northern Oil and Gas by 572.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock valued at $36,000 after purchasing an additional 1,432 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

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.