Northern Oil and Gas, Inc. (NYSE:NOG) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on Northern Oil and Gas, with two sell, four hold and three buy ratings. The average 12-month price target is $30.63 versus the stock’s reported price of $25.74.
• The company’s latest quarterly results were mixed: earnings per share came in at $1.13, below the $1.18 consensus estimate, while revenue of $745.24 million exceeded expectations and rose 5.4% year over year.
• Northern Oil and Gas declared a quarterly dividend of $0.45 per share, equivalent to a 7.0% annualized yield, while an insider also purchased nearly $500,000 worth of company stock. Institutional investors own 98.8% of the shares.

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) has been assigned an average recommendation of "Hold" from the nine ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $30.6250.

Several analysts have recently weighed in on the company. Wall Street Zen upgraded Northern Oil and Gas from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Johnson Rice lowered shares of Northern Oil and Gas from an "accumulate" rating to a "hold" rating and set a $36.00 price objective for the company. in a report on Wednesday, May 20th. Citigroup cut their target price on shares of Northern Oil and Gas from $36.00 to $28.00 and set a "buy" rating on the stock in a research report on Monday, July 20th. Raymond James Financial reissued an "outperform" rating and set a $28.00 target price on shares of Northern Oil and Gas in a report on Wednesday, July 15th. Finally, Morgan Stanley set a $25.00 price target on shares of Northern Oil and Gas and gave the company an "underweight" rating in a research report on Monday, June 29th.

Insider Buying and Selling at Northern Oil and Gas

In related news, Director Bahram Akradi acquired 25,760 shares of the firm's stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average cost of $19.40 per share, for a total transaction of $499,744.00. Following the completion of the acquisition, the director directly owned 1,713,444 shares of the company's stock, valued at approximately $33,240,813.60. This trade represents a 1.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Northern Oil and Gas in the second quarter valued at about $29,000. Allworth Financial LP acquired a new stake in Northern Oil and Gas during the 2nd quarter valued at approximately $31,000. Ascentis Independent Advisors bought a new position in Northern Oil and Gas during the 1st quarter worth approximately $33,000. Jones Financial Companies Lllp lifted its position in shares of Northern Oil and Gas by 181.0% in the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company's stock worth $33,000 after purchasing an additional 713 shares during the period. Finally, Global Retirement Partners LLC lifted its position in shares of Northern Oil and Gas by 572.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company's stock worth $36,000 after purchasing an additional 1,432 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Up 0.0%

NYSE NOG opened at $25.74 on Monday. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -4.97 and a beta of 0.70. Northern Oil and Gas has a twelve month low of $17.18 and a twelve month high of $31.17. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.37. The business's fifty day moving average is $21.57 and its 200 day moving average is $24.19.

Northern Oil and Gas (NYSE:NOG - Get Free Report) 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). The firm had revenue of $745.24 million during the quarter, compared to analyst estimates of $594.09 million. Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%.Northern Oil and Gas's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.37 EPS. As a group, sell-side analysts expect that Northern Oil and Gas will post 3.79 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.80 annualized dividend and a dividend yield of 7.0%. Northern Oil and Gas's payout ratio is currently -34.75%.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company's primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.

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