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 report released on Monday morning.

A number of other research analysts also recently weighed in on NOG. Royal Bank of Canada reissued an outperform rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. Piper Sandler raised their price objective on Northern Oil and Gas from $38.00 to $42.00 and gave the company a neutral rating in a research note on Friday, April 19th. Raymond James cut their price objective on 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 raised their price objective on Northern Oil and Gas from $45.00 to $51.00 and gave the company a buy rating in a research note on Thursday, March 21st. Finally, Stifel Nicolaus cut their price objective on Northern Oil and Gas from $54.00 to $52.00 and set a buy rating on the stock in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Northern Oil and Gas has a consensus rating of Moderate Buy and an average price target of $47.30.

Northern Oil and Gas Trading Down 0.3 %

Shares of NYSE NOG opened at $42.97 on Monday. Northern Oil and Gas has a one year low of $29.57 and a one year high of $43.64. The firm has a market capitalization of $4.34 billion, a PE ratio of 4.28 and a beta of 1.86. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average price of $38.60 and a two-hundred day moving average price of $37.27.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.03). The firm had revenue of $543.40 million for the quarter, compared to analyst estimates of $555.31 million. Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.43 earnings per share. As a group, analysts predict that Northern Oil and Gas will post 5.47 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Wednesday, March 27th. Northern Oil and Gas’s dividend payout ratio is presently 15.94%.

Insider Activity

In other news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total transaction of $153,675.00. Following the sale, the chief executive officer now directly owns 228,082 shares in the company, valued at $9,346,800.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the sale, the chief executive officer now owns 228,082 shares of the company’s stock, valued at approximately $9,346,800.36. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James B. Evans sold 945 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 83,872 shares in the company, valued at approximately $3,187,136. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,944 shares of company stock worth $436,614. Company insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

Institutional investors and hedge funds have recently bought and sold shares of the business. Principal Securities Inc. acquired a new position in Northern Oil and Gas in the fourth quarter worth $42,000. TFO Wealth Partners LLC boosted its stake in Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after purchasing an additional 1,121 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Northern Oil and Gas by 305.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after purchasing an additional 927 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Northern Oil and Gas in the third quarter worth $67,000. Finally, Quadrant Capital Group LLC boosted its stake in Northern Oil and Gas by 74.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after purchasing an additional 930 shares in 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, 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.