Northern Oil and Gas (NYSE:NOG - Free Report) had its target price boosted by Bank of America from $29.00 to $33.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.
Other equities analysts also recently issued research reports about the company. Mizuho lowered their price target on Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Capital One Financial downgraded Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Raymond James reaffirmed a "strong-buy" rating on shares of Northern Oil and Gas in a research report on Tuesday, May 13th. Citigroup lowered their price target on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Finally, Piper Sandler lowered their target price on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $39.67.
View Our Latest Stock Report on Northern Oil and Gas
Northern Oil and Gas Stock Down 0.7%
Northern Oil and Gas stock traded down $0.20 during mid-day trading on Friday, hitting $27.30. 1,068,933 shares of the company's stock were exchanged, compared to its average volume of 1,531,873. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The stock has a market cap of $2.69 billion, a P/E ratio of 5.31 and a beta of 1.47. The stock has a 50 day moving average of $26.04 and a two-hundred day moving average of $33.21. Northern Oil and Gas has a 1-year low of $19.88 and a 1-year high of $44.31.
Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The business had revenue of $602.10 million for the quarter, compared to analyst estimates of $568.87 million. During the same quarter in the prior year, the firm posted $1.28 EPS. The firm's revenue for the quarter was up 51.9% on a year-over-year basis. As a group, analysts anticipate that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.
Northern Oil and Gas announced that its board has authorized a share repurchase program on Tuesday, March 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.
Northern Oil and Gas Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 28.04%.
Insider Buying and Selling
In other Northern Oil and Gas news, Director Bahram Akradi bought 40,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the transaction, the director now owns 1,662,016 shares in the company, valued at approximately $46,586,308.48. The trade was a 2.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Nicholas L. O'grady acquired 1,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the acquisition, the chief executive officer now directly owns 226,189 shares of the company's stock, valued at approximately $6,215,673.72. This represents a 0.44% increase in their position. The disclosure for this purchase can be found here. 2.90% of the stock is owned by company insiders.
Institutional Investors Weigh In On Northern Oil and Gas
A number of institutional investors have recently added to or reduced their stakes in NOG. Vanguard Group Inc. boosted its stake in Northern Oil and Gas by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company's stock valued at $418,916,000 after buying an additional 166,501 shares in the last quarter. American Century Companies Inc. boosted its stake in Northern Oil and Gas by 6.4% in the 1st 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Northern Oil and Gas by 30.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company's stock valued at $129,939,000 after purchasing an additional 1,001,493 shares in the last quarter. Copeland Capital Management LLC grew its holdings in shares of Northern Oil and Gas by 0.9% in the 4th quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company's stock worth $78,590,000 after purchasing an additional 18,195 shares during the last quarter. Finally, Channing Capital Management LLC grew its holdings in shares of Northern Oil and Gas by 8.7% in the 1st quarter. Channing Capital Management LLC now owns 1,920,258 shares of the company's stock worth $58,049,000 after purchasing an additional 153,635 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.
About Northern Oil and Gas
(
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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.
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