Northern Oil and Gas, Inc. (NYSE:NOG) Stock Has Consensus Target Price of $31.00

Key Points

• Analysts maintain a consensus “Hold” rating on Northern Oil and Gas, with four holds, three buys and two sells. The average 12-month price target is $31.00, compared with the stock’s $23.55 opening price.
• Institutional investors and hedge funds own approximately 98.8% of the company, with several firms increasing their positions recently.
• Northern Oil and Gas reported quarterly revenue of $745.24 million, exceeding estimates, but EPS of $1.13 fell short of consensus. The company also announced a $0.45 quarterly dividend, equivalent to a 7.6% annualized yield.

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) has been assigned an average recommendation of "Hold" from the nine analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $31.00.

NOG has been the topic of several recent analyst reports. Wall Street Zen raised Northern Oil and Gas from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Citigroup lowered their target price on Northern Oil and Gas from $36.00 to $28.00 and set a "buy" rating on the stock in a research note on Monday, July 20th. Morgan Stanley set a $25.00 target price on Northern Oil and Gas and gave the company an "underweight" rating in a report on Monday, June 29th. Mizuho raised shares of Northern Oil and Gas to a "hold" rating in a research report on Friday, July 31st. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $31.00 price objective (up from $28.00) on shares of Northern Oil and Gas in a research note on Thursday, September 10th.

Hedge Funds Weigh In On Northern Oil and Gas

A number of hedge funds have recently modified their holdings of the stock. Kennedy Capital Management LLC lifted its stake in Northern Oil and Gas by 17.0% in the fourth quarter. Kennedy Capital Management LLC now owns 884,006 shares of the company's stock valued at $18,980,000 after acquiring an additional 128,545 shares during the last quarter. Easterly Investment Partners LLC raised its holdings in shares of Northern Oil and Gas by 32.7% during the 4th quarter. Easterly Investment Partners LLC now owns 187,146 shares of the company's stock valued at $4,018,000 after purchasing an additional 46,136 shares in the last quarter. Collar Capital Management LLC acquired a new stake in shares of Northern Oil and Gas in the 4th quarter valued at $2,877,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Northern Oil and Gas in the 2nd quarter valued at $917,000. Finally, Bank of America Corp DE boosted its holdings in Northern Oil and Gas by 18.5% in the first quarter. Bank of America Corp DE now owns 1,245,639 shares of the company's stock worth $36,410,000 after purchasing an additional 194,861 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Up 1.8%

Northern Oil and Gas stock opened at $23.55 on Friday. Northern Oil and Gas has a 52 week low of $17.18 and a 52 week high of $31.17. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -4.55 and a beta of 0.73. The company has a 50 day moving average price of $24.03 and a 200 day moving average price of $23.97.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.05). The firm had revenue of $745.24 million for the quarter, compared to analyst estimates of $594.09 million. Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. Northern Oil and Gas's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $1.37 earnings per share. Research analysts forecast that Northern Oil and Gas will post 3.63 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.6%. Northern Oil and Gas's dividend payout ratio (DPR) is -34.75%.

About Northern Oil and Gas

Northern Oil and Gas, Inc is an independent exploration and production company focused on acquiring and managing non-operated interests in oil and natural gas properties. Rather than serving as the primary operator of wells, the company invests alongside established operators and participates in the development and production of upstream assets.

The company's portfolio includes interests in producing and undeveloped properties across several major U.S. oil and gas regions, including the Williston Basin, Permian Basin and Uinta Basin.

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