Northern Oil and Gas (NYSE:NOG) Upgraded at StockNews.com

StockNews.com upgraded shares of Northern Oil and Gas (NYSE:NOG) from a sell rating to a hold rating in a research note published on Thursday morning.

Several other equities research analysts have also commented on the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. Stifel Nicolaus boosted their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Raymond James decreased their target price on shares of Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating on the stock in a research note on Wednesday, January 24th. Jefferies Financial Group upped their price target on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the stock a buy rating in a research report on Thursday, March 21st. Finally, Morgan Stanley increased their price objective on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $47.90.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $40.25 on Thursday. The firm has a fifty day simple moving average of $39.61 and a two-hundred day simple moving average of $37.31. The company has a quick ratio of 1.32, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Northern Oil and Gas has a twelve month low of $29.57 and a twelve month high of $43.75. The company has a market capitalization of $4.07 billion, a PE ratio of 6.52 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The company had revenue of $396.35 million during the quarter, compared to analysts’ expectations of $505.67 million. During the same period in the prior year, the business posted $1.76 EPS. Northern Oil and Gas’s quarterly revenue was down 31.9% compared to the same quarter last year. Research analysts expect that Northern Oil and Gas will post 5.46 EPS for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 25.93%.

Insider Buying and Selling

In other news, insider James B. Evans sold 945 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the transaction, the insider now owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total value of $79,344.00. Following the sale, the president now directly owns 122,359 shares in the company, valued at approximately $4,649,642. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James B. Evans sold 945 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the transaction, the insider now directly owns 83,872 shares of the company’s stock, valued at approximately $3,187,136. The disclosure for this sale can be found here. Insiders sold a total of 10,944 shares of company stock valued at $436,614 over the last 90 days. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

A number of hedge funds have recently modified their holdings of NOG. Easterly Investment Partners LLC boosted its stake in Northern Oil and Gas by 2.2% during the first quarter. Easterly Investment Partners LLC now owns 50,521 shares of the company’s stock worth $2,005,000 after buying an additional 1,094 shares during the period. Jennison Associates LLC purchased a new position in shares of Northern Oil and Gas during the 1st quarter worth approximately $7,780,000. Capstone Investment Advisors LLC increased its holdings in Northern Oil and Gas by 8,679.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock valued at $20,355,000 after purchasing an additional 507,129 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Northern Oil and Gas by 17.0% in the first quarter. Janney Montgomery Scott LLC now owns 9,992 shares of the company’s stock valued at $396,000 after purchasing an additional 1,453 shares during the period. Finally, Hartline Investment Corp acquired a new position in Northern Oil and Gas during the first quarter worth $894,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.