Northern Oil and Gas (NYSE:NOG) Price Target Raised to $30.00

Northern Oil and Gas (NYSE:NOG) had its price objective increased by Mizuho from $29.00 to $30.00 in a research report report published on Wednesday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. Morgan Stanley set a $25.00 target price on Northern Oil and Gas and gave the stock an “underweight” rating in a research report on Monday, June 29th. Weiss Ratings downgraded shares of Northern Oil and Gas from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Wall Street Zen upgraded shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Raymond James Financial reiterated an “outperform” rating and issued a $31.00 price target (up from $28.00) on shares of Northern Oil and Gas in a research note on Thursday, September 10th. Finally, Citigroup decreased their price objective on shares of Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating for the company in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.22.

Northern Oil and Gas Stock Up 5.6%

Northern Oil and Gas stock opened at $27.19 on Wednesday. Northern Oil and Gas has a 12 month low of $17.18 and a 12 month high of $31.17. The stock has a fifty day simple moving average of $25.18 and a two-hundred day simple moving average of $23.56. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.37. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 6.90 and a beta of 0.90.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The business had revenue of $745.24 million for the quarter, compared to the consensus estimate of $594.09 million. During the same period in the previous year, the company earned $1.37 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts predict that Northern Oil and Gas will post 3.81 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 6.6%. Northern Oil and Gas’s dividend payout ratio is presently -34.75%.

Hedge Funds Weigh In On Northern Oil and Gas

Institutional investors have recently made changes to their positions in the business. Ascentis Independent Advisors bought a new stake in Northern Oil and Gas during the first quarter valued at approximately $33,000. Triumph Capital Management raised its position in Northern Oil and Gas by 77.8% in the third quarter. Triumph Capital Management now owns 1,600 shares of the company’s stock worth $37,000 after acquiring an additional 700 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Northern Oil and Gas in the second quarter worth approximately $29,000. Allworth Financial LP bought a new position in Northern Oil and Gas in the second quarter worth approximately $31,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Northern Oil and Gas by 41.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,751 shares of the company’s stock worth $40,000 after acquiring an additional 511 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

More Northern Oil and Gas News

Here are the key news stories impacting Northern Oil and Gas this week:

• Positive Sentiment: Zacks upgraded NOG to Rank #2 (Buy), citing growing optimism about the company’s earnings prospects. Because the Zacks system emphasizes earnings estimates and revisions, the upgrade may attract additional momentum-oriented investors. What Makes Northern Oil and Gas a New Buy Stock
• Positive Sentiment: Citigroup raised its NOG price target from $28 to $32 and maintained a Buy rating. The higher target implies meaningful upside from the recently cited $27.19 reference price and provides a strong near-term catalyst. Read More
• Positive Sentiment: Mizuho lifted its price target to $30 and was described as forecasting strong appreciation for NOG. The revision adds to the group of analysts signaling further potential upside. Mizuho lifts target for Northern Oil and Gas stock to USD 30.00
• Neutral Sentiment: Scotiabank initiated coverage with a Sector Perform rating, signaling a view that NOG should broadly track its industry rather than materially outperform it. Scotiabank Initiates Northern Oil and Gas at Sector Perform
• Neutral Sentiment: RBC Capital assigned NOG a Hold rating, tempering the more bullish calls and highlighting continued analyst disagreement over the stock’s valuation and outlook. Northern Oil and Gas Receives a Hold from RBC Capital
• Neutral Sentiment: A separate Zacks review examined NOG’s value, growth and momentum characteristics but did not identify a major new operating development or change in fundamentals. Should Value Investors Buy Northern Oil and Gas Stock?

About Northern Oil and Gas

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests in wells, allowing it to participate in hydrocarbon development without serving as the principal operator.

Northern Oil and Gas has built a diversified portfolio across several major U.S. oil and natural gas regions, including the Williston Basin, the Permian Basin and the Appalachian Basin.