Brokerages Set Northern Oil and Gas, Inc. (NYSE:NOG) Price Target at $33.25

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given an average rating of “Hold” by the eleven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $33.25.

Several equities analysts recently weighed in on the stock. Citigroup decreased their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Wednesday, October 8th. Mizuho boosted their price objective on shares of Northern Oil and Gas from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $26.00 target price (down from $27.00) on shares of Northern Oil and Gas in a research note on Tuesday, October 14th.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $21.49 on Tuesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50-day moving average of $22.19 and a 200-day moving average of $25.22. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 12.14 and a beta of 1.05. Northern Oil and Gas has a fifty-two week low of $19.88 and a fifty-two week high of $42.35.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Monday, March 6th. The company reported $1.06 EPS for the quarter. The firm had revenue of $319.19 million during the quarter. Northern Oil and Gas had a return on equity of 20.61% and a net margin of 7.61%. As a group, sell-side analysts predict that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, December 30th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date of this dividend is Tuesday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 101.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Teacher Retirement System of Texas lifted its holdings in Northern Oil and Gas by 2.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 14,270 shares of the company’s stock valued at $405,000 after purchasing an additional 402 shares during the last quarter. Range Financial Group LLC raised its position in shares of Northern Oil and Gas by 5.3% in the third quarter. Range Financial Group LLC now owns 9,736 shares of the company’s stock valued at $241,000 after purchasing an additional 486 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Northern Oil and Gas by 133.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company’s stock worth $27,000 after buying an additional 545 shares during the last quarter. First National Advisers LLC boosted its holdings in shares of Northern Oil and Gas by 4.8% during the 3rd quarter. First National Advisers LLC now owns 12,665 shares of the company’s stock worth $314,000 after buying an additional 580 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of Northern Oil and Gas by 3.0% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 20,300 shares of the company’s stock worth $583,000 after buying an additional 600 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Company Profile

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.