Northern Oil and Gas, Inc. (NYSE:NOG) Receives $33.00 Consensus Price Target from Brokerages

Northern Oil and Gas, Inc. (NYSE:NOG) has been assigned an average rating of “Hold” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $33.00.

NOG has been the subject of a number of research analyst reports. Piper Sandler reissued a “neutral” rating and issued a $25.00 price target (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Morgan Stanley reiterated an “underweight” rating and issued a $26.00 price objective (down previously from $27.00) on shares of Northern Oil and Gas in a research note on Tuesday, October 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Wednesday, October 8th. Royal Bank Of Canada lowered their price target on shares of Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Monday, July 14th. Finally, Citigroup dropped their price target on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, October 20th.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $21.59 on Monday. Northern Oil and Gas has a 12 month low of $19.88 and a 12 month high of $44.31. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.98. The stock has a market cap of $2.11 billion, a PE ratio of 3.56 and a beta of 1.48. The business has a fifty day simple moving average of $23.91 and a 200-day simple moving average of $26.22.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Monday, March 6th. The company reported $1.06 earnings per share (EPS) for the quarter. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%.The firm had revenue of $319.19 million during the quarter. On average, sell-side analysts anticipate that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Tuesday, December 30th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend is Tuesday, December 30th. Northern Oil and Gas’s dividend payout ratio is presently 101.69%.

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors have recently made changes to their positions in NOG. Teacher Retirement System of Texas bought a new stake in shares of Northern Oil and Gas in the 1st quarter valued at approximately $419,000. Principal Financial Group Inc. lifted its stake in Northern Oil and Gas by 2.6% in the first quarter. Principal Financial Group Inc. now owns 494,508 shares of the company’s stock valued at $14,949,000 after acquiring an additional 12,711 shares during the last quarter. Concurrent Investment Advisors LLC bought a new stake in Northern Oil and Gas in the first quarter worth approximately $239,000. Envestnet Asset Management Inc. grew its position in Northern Oil and Gas by 0.4% in the first quarter. Envestnet Asset Management Inc. now owns 396,980 shares of the company’s stock worth $12,001,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Northern Oil and Gas by 155.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 16,496 shares of the company’s stock worth $506,000 after purchasing an additional 10,039 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.