Northern Oil and Gas, Inc. (NYSE:NOG) Receives Consensus Rating of “Hold” from Analysts

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

Several research analysts have recently commented on NOG shares. Citigroup lowered their price objective 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. Mizuho reduced their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a research report on Wednesday, October 8th. Morgan Stanley reiterated an “underweight” rating and issued a $26.00 price objective (down from $27.00) on shares of Northern Oil and Gas in a research note on Tuesday, October 14th. Finally, William Blair assumed coverage on Northern Oil and Gas in a report on Monday, August 25th. They issued an “outperform” rating for the company.

Northern Oil and Gas Trading Down 1.6%

Shares of NYSE NOG opened at $22.72 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $2.22 billion, a PE ratio of 3.75 and a beta of 1.48. Northern Oil and Gas has a twelve month low of $19.88 and a twelve month high of $43.78. The stock has a fifty day simple moving average of $22.71 and a 200-day simple moving average of $25.75.

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

Northern Oil and Gas Dividend Announcement

The business 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 dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.9%. Northern Oil and Gas’s payout ratio is currently 101.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. DLD Asset Management LP raised its holdings in shares of Northern Oil and Gas by 42.9% in the 2nd quarter. DLD Asset Management LP now owns 25,000,000 shares of the company’s stock valued at $708,750,000 after purchasing an additional 7,500,000 shares in the last quarter. American Century Companies Inc. increased its holdings in Northern Oil and Gas by 6.4% in the first quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock valued at $210,201,000 after buying an additional 415,781 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Northern Oil and Gas by 5.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,941,662 shares of the company’s stock valued at $122,563,000 after buying an additional 235,869 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Northern Oil and Gas by 25.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,951,505 shares of the company’s stock valued at $56,867,000 after buying an additional 397,128 shares in the last quarter. Finally, Channing Capital Management LLC lifted its holdings in Northern Oil and Gas by 8.7% during the 1st quarter. Channing Capital Management LLC now owns 1,920,258 shares of the company’s stock worth $58,049,000 after buying an additional 153,635 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

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.