Mizuho Issues Pessimistic Forecast for Northern Oil and Gas (NYSE:NOG) Stock Price

Northern Oil and Gas (NYSE:NOG - Free Report) had its target price lowered by Mizuho from $33.00 to $32.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages also recently weighed in on NOG. Royal Bank Of Canada lowered their price objective on shares of Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating on the stock in a research report on Monday. Morgan Stanley cut their price target on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Bank of America boosted their price objective on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Piper Sandler decreased their price objective on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Citigroup lifted their price target on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $38.78.

Northern Oil and Gas Stock Up 2.4%

NYSE:NOG traded up $0.64 during mid-day trading on Wednesday, hitting $27.57. 1,971,779 shares of the company's stock were exchanged, compared to its average volume of 1,605,831. The company has a market cap of $2.72 billion, a PE ratio of 4.30 and a beta of 1.50. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.92. Northern Oil and Gas has a one year low of $19.88 and a one year high of $44.31. The business has a fifty day moving average price of $29.04 and a 200 day moving average price of $30.58.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.21. The firm had revenue of $602.10 million during the quarter, compared to analyst estimates of $568.87 million. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. Northern Oil and Gas's quarterly revenue was up 51.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 EPS. Equities analysts predict that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Friday, June 27th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.53%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 28.04%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NOG. MassMutual Private Wealth & Trust FSB increased its holdings in Northern Oil and Gas by 133.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company's stock valued at $27,000 after buying an additional 545 shares during the period. UMB Bank n.a. increased its holdings in shares of Northern Oil and Gas by 200.3% in the 2nd quarter. UMB Bank n.a. now owns 955 shares of the company's stock valued at $27,000 after acquiring an additional 637 shares during the period. Pinnacle Holdings LLC bought a new position in shares of Northern Oil and Gas in the 1st quarter worth $28,000. Headlands Technologies LLC purchased a new stake in shares of Northern Oil and Gas during the 4th quarter worth $29,000. Finally, Signaturefd LLC boosted its position in Northern Oil and Gas by 60.0% during the first quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after purchasing an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Company Profile

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.