Northern Oil and Gas (NYSE:NOG) Given New $45.00 Price Target at Citigroup

Northern Oil and Gas (NYSE:NOG) had its price target lowered by Citigroup from $55.00 to $45.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on NOG. Morgan Stanley set a $43.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, January 22nd. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Monday, December 16th. Capital One Financial lowered shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. Truist Financial upped their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Royal Bank of Canada lowered their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and an average price target of $46.89.

Northern Oil and Gas Trading Down 3.2 %

Shares of NOG stock opened at $32.23 on Tuesday. Northern Oil and Gas has a 52-week low of $32.14 and a 52-week high of $44.31. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 6.27 and a beta of 1.82. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The firm has a fifty day moving average of $37.35 and a 200-day moving average of $38.26.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. On average, equities research analysts forecast that Northern Oil and Gas will post 5.18 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.59%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio is currently 35.02%.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the sale, the president now owns 96,223 shares of the company’s stock, valued at $3,752,697. This represents a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. bought a new position in shares of Northern Oil and Gas in the 4th quarter valued at about $1,128,000. GTS Securities LLC boosted its stake in shares of Northern Oil and Gas by 238.2% in the 4th quarter. GTS Securities LLC now owns 22,318 shares of the company’s stock valued at $829,000 after purchasing an additional 15,718 shares during the last quarter. Voloridge Investment Management LLC bought a new position in shares of Northern Oil and Gas in the 4th quarter valued at about $1,683,000. Woodline Partners LP bought a new position in shares of Northern Oil and Gas in the 4th quarter valued at about $997,000. Finally, iSAM Funds UK Ltd bought a new position in shares of Northern Oil and Gas in the 4th quarter valued at about $373,000. Institutional investors 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.