Northern Oil and Gas, Inc. (NOG) - What Are Researchers Thinking About This Stock?

Key Points

• Analysts’ consensus is “Hold”: Of 11 ratings, five are Hold, four Buy/Strong Buy, and two Sell; the average 12-month price target is $31.33.
• Northern Oil and Gas reported quarterly EPS of $1.32, beating the $1.09 consensus, while revenue rose 45.2% year over year to $345.91 million.
• The company declared a quarterly dividend of $0.45 per share, equivalent to $1.80 annually and a stated yield of 7.2%.

Shares of Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) have been assigned a consensus rating of "Hold" from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $31.33.

NOG has been the subject of several recent analyst reports. Scotiabank assumed coverage on shares of Northern Oil and Gas in a research note on Wednesday, October 14th. They set a "sector perform" rating and a $27.00 price objective for the company. Morgan Stanley reaffirmed an "underweight" rating and set a $26.00 target price (up from $25.00) on shares of Northern Oil and Gas in a report on Thursday, October 15th. Mizuho increased their target price on shares of Northern Oil and Gas from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 14th. Wall Street Zen raised shares of Northern Oil and Gas from a "buy" rating to a "strong-buy" rating in a report on Saturday, November 7th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $34.00 price target on shares of Northern Oil and Gas in a report on Wednesday, October 28th.

Northern Oil and Gas Stock Up 1.6%

Shares of NYSE NOG opened at $25.13 on Friday. Northern Oil and Gas has a 52 week low of $17.18 and a 52 week high of $31.17. The business has a 50-day simple moving average of $25.26 and a two-hundred day simple moving average of $24.56. The company has a quick ratio of 0.80, a current ratio of 0.59 and a debt-to-equity ratio of 1.43. The company has a market cap of $2.66 billion, a P/E ratio of -5.12 and a beta of 0.85.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.23. Northern Oil and Gas had a positive return on equity of 21.81% and a negative net margin of 27.47%. The business had revenue of $345.91 million during the quarter, compared to analyst estimates of $617.68 million. During the same quarter in the previous year, the firm earned $1.03 EPS. The company's quarterly revenue was up 45.2% compared to the same quarter last year. Research analysts anticipate that Northern Oil and Gas will post 4.02 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Wednesday, December 30th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, December 30th. This represents a $1.80 annualized dividend and a dividend yield of 7.2%. Northern Oil and Gas's dividend payout ratio is presently -36.66%.

Institutional Investors Weigh In On Northern Oil and Gas

Several large investors have recently added to or reduced their stakes in NOG. Bank of New York Mellon Corp bought a new stake in Northern Oil and Gas during the second quarter valued at approximately $26,769,000. First Trust Advisors LP grew its stake in 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 buying an additional 629,197 shares in the last quarter. Requisite Capital Management LLC purchased a new position in Northern Oil and Gas in the 2nd quarter worth approximately $10,519,000. Counterpoint Mutual Funds LLC grew its stake in Northern Oil and Gas by 3,057.0% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 427,012 shares of the company's stock worth $9,770,000 after buying an additional 413,486 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new position in shares of Northern Oil and Gas in the 3rd quarter worth $9,351,000. Institutional investors own 98.80% of the company's stock.

About Northern Oil and Gas

Northern Oil and Gas, Inc. is an independent energy company that acquires interests in oil and natural gas properties across the United States. It primarily holds non-operated working interests, partnering with other companies that manage drilling and production activities. The company's portfolio spans several major U.S. producing regions, including the Williston, Permian, Appalachian and Uinta basins. Its interests include properties producing crude oil, natural gas and natural gas liquids. Founded in 2006, Northern Oil and Gas initially focused on the Williston Basin.

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