Northern Oil and Gas, Inc. (NYSE:NOG) Stock Rated “Hold” by Wall Street Analysts

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $31.22.

Several research analysts have recently commented on the company. Scotiabank initiated coverage on Northern Oil and Gas in a research report on Wednesday, October 14th. They issued a “sector perform” rating and a $27.00 target price for the company. Mizuho upped their price target on Northern Oil and Gas from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, October 14th. Morgan Stanley restated an “underweight” rating and set a $26.00 price objective (up from $25.00) on shares of Northern Oil and Gas in a research note on Thursday, October 15th. Wall Street Zen upgraded shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Citigroup lifted their price target on shares of Northern Oil and Gas from $28.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, October 15th.

Northern Oil and Gas Price Performance

NOG opened at $28.26 on Tuesday. The company has a 50-day moving average of $25.53 and a 200-day moving average of $23.52. The company has a market capitalization of $3.01 billion, a P/E ratio of -5.46 and a beta of 0.90. Northern Oil and Gas has a 1-year low of $17.18 and a 1-year high of $31.17. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.80.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The company had revenue of $745.24 million during the quarter, compared to analyst estimates of $594.09 million. During the same quarter last year, the company posted $1.37 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts expect that Northern Oil and Gas will post 3.82 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 6.4%. Northern Oil and Gas’s dividend payout ratio is -34.75%.

Institutional Trading of Northern Oil and Gas

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company acquired a new position in Northern Oil and Gas during the 2nd quarter valued at approximately $917,000. Bank of America Corp DE grew its position in shares of Northern Oil and Gas by 18.5% during the first quarter. Bank of America Corp DE now owns 1,245,639 shares of the company’s stock worth $36,410,000 after acquiring an additional 194,861 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Northern Oil and Gas by 116.8% in the 1st quarter. First Trust Advisors LP now owns 1,167,971 shares of the company’s stock worth $34,140,000 after acquiring an additional 629,197 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Northern Oil and Gas in the 1st quarter worth about $8,115,000. Finally, Odyssean LLC bought a new stake in Northern Oil and Gas in the 2nd quarter valued at about $848,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

About Northern Oil and Gas

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests, allowing it to participate in wells drilled and managed by other exploration and production companies while maintaining exposure to a broad portfolio of oil and gas assets.

Northern Oil and Gas has historically focused on properties in the Williston Basin of North Dakota and Montana and has expanded its operations into other major U.S.