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

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given an average rating of “Moderate Buy” by the eleven analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $46.80.

Several equities analysts have weighed in on NOG shares. Morgan Stanley cut their target price on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Bank of America lifted their price objective on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Mizuho started coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research report on Thursday. They set a “buy” rating and a $53.00 price target on the stock.

Insiders Place Their Bets

In other news, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the sale, the insider now owns 105,713 shares of the company’s stock, valued at $3,727,440.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Nicholas L. O’grady sold 3,750 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the sale, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the transaction, the insider now directly owns 105,713 shares in the company, valued at $3,727,440.38. The disclosure for this sale can be found here. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares during the period. TFO Wealth Partners LLC grew its stake in Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after buying an additional 1,121 shares during the last quarter. Quarry LP grew its stake in Northern Oil and Gas by 338.8% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after buying an additional 874 shares during the last quarter. Fifth Third Bancorp raised its holdings in Northern Oil and Gas by 88.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock valued at $82,000 after acquiring an additional 1,033 shares during the period. Finally, Marks Group Wealth Management Inc acquired a new stake in Northern Oil and Gas during the first quarter worth approximately $215,000. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Trading Up 6.0 %

NOG opened at $39.08 on Friday. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $43.80. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 6.33 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $37.66 and a 200 day simple moving average of $39.08.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $542.28 million. During the same quarter in the previous year, the company posted $1.49 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Northern Oil and Gas will post 5.29 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Friday, September 27th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 27.23%.

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.