Northern Oil and Gas, Inc. (NYSE:NOG) Stock Now Rated "Hold" by Sell-Side Brokerages

Key Points

• Northern Oil and Gas has a consensus “Hold” rating among 10 brokerages, with two sell ratings, five holds, and three buys. Analysts’ average 12-month price target is $31.22.
• The stock opened at $27.75, with a market capitalization of approximately $2.96 billion and a 52-week range of $17.18 to $31.17. The company’s latest quarterly earnings missed estimates, though revenue increased 5.4% year over year.
• Northern Oil and Gas declared a quarterly dividend of $0.45 per share, equivalent to an annualized $1.80 payout and a 6.5% yield. Institutional investors own approximately 98.8% of the company’s shares.

Shares of Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) have been assigned a consensus rating of "Hold" from the ten brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $31.22.

A number of research firms recently commented on NOG. Scotiabank began coverage on Northern Oil and Gas in a research report on Wednesday, October 14th. They issued a "sector perform" rating and a $27.00 price target for the company. Weiss Ratings downgraded shares of Northern Oil and Gas from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, October 8th. Morgan Stanley reaffirmed an "underweight" rating and set a $26.00 price objective (up from $25.00) on shares of Northern Oil and Gas in a report on Thursday. Wall Street Zen upgraded shares of Northern Oil and Gas from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $31.00 target price (up from $28.00) on shares of Northern Oil and Gas in a research note on Thursday, September 10th.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $27.75 on Tuesday. The firm has a market capitalization of $2.96 billion, a P/E ratio of -5.36 and a beta of 0.90. Northern Oil and Gas has a 52 week low of $17.18 and a 52 week high of $31.17. The stock has a 50 day moving average price of $25.27 and a two-hundred day moving average price of $23.50. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.80.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $1.18 by ($0.05). Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The company had revenue of $745.24 million during the quarter, compared to the consensus estimate of $594.09 million. During the same quarter in the prior year, the business earned $1.37 EPS. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts forecast that Northern Oil and Gas will post 3.82 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, October 30th. Investors of record on Tuesday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Tuesday, September 29th. Northern Oil and Gas's dividend payout ratio (DPR) is presently -34.75%.

Institutional Inflows and Outflows

Several hedge funds and other institutional 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 worth $26,769,000. First Trust Advisors LP boosted its position in Northern Oil and Gas by 116.8% in the first quarter. First Trust Advisors LP now owns 1,167,971 shares of the company's stock worth $34,140,000 after purchasing an additional 629,197 shares during the last quarter. Requisite Capital Management LLC purchased a new position in Northern Oil and Gas in the second quarter worth $10,519,000. Counterpoint Mutual Funds LLC boosted its position in Northern Oil and Gas by 3,057.0% in the third quarter. Counterpoint Mutual Funds LLC now owns 427,012 shares of the company's stock worth $9,770,000 after purchasing an additional 413,486 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Northern Oil and Gas in the 1st quarter valued at $8,115,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

About Northern Oil and Gas

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests in wells, allowing it to participate in hydrocarbon development without serving as the principal operator.

Northern Oil and Gas has built a diversified portfolio across several major U.S. oil and natural gas regions, including the Williston Basin, the Permian Basin and the Appalachian Basin.

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