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

Northern Oil and Gas, Inc. (NYSE:NOG) has been given a consensus recommendation of “Hold” by the ten analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $30.6250.

A number of equities analysts recently weighed in on NOG shares. Raymond James Financial reissued an “outperform” rating and set a $28.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, July 15th. Wall Street Zen cut shares of Northern Oil and Gas from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Morgan Stanley set a $25.00 price target on Northern Oil and Gas and gave the stock an “underweight” rating in a report on Monday, June 29th. Weiss Ratings lowered Northern Oil and Gas from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, July 23rd. Finally, Citigroup dropped their price objective on Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, July 20th.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $23.44 on Thursday. The company has a market capitalization of $2.55 billion, a PE ratio of -4.53 and a beta of 0.70. The company has a 50 day simple moving average of $20.17 and a two-hundred day simple moving average of $24.07. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.53 and a current ratio of 0.80. Northern Oil and Gas has a fifty-two week low of $17.18 and a fifty-two week high of $31.17.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.05). Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%.The firm had revenue of $745.24 million for the quarter, compared to the consensus estimate of $594.09 million. During the same quarter in the previous year, the business posted $1.37 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts anticipate that Northern Oil and Gas will post 3.5 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Tuesday, September 29th. Northern Oil and Gas’s payout ratio is presently -34.75%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, Director Bahram Akradi purchased 25,760 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $19.40 per share, for a total transaction of $499,744.00. Following the purchase, the director owned 1,713,444 shares of the company’s stock, valued at $33,240,813.60. This trade represents a 1.53% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Northern Oil and Gas

A number of hedge funds have recently bought and sold shares of the company. Ascentis Independent Advisors purchased a new position in Northern Oil and Gas in the first quarter worth $33,000. Jones Financial Companies Lllp increased its position in shares of Northern Oil and Gas by 181.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after purchasing an additional 713 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Northern Oil and Gas by 572.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock worth $36,000 after purchasing an additional 1,432 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Northern Oil and Gas during the 4th quarter worth $43,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Northern Oil and Gas by 429.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock worth $43,000 after buying an additional 1,228 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.