Northern Oil and Gas (NYSE:NOG) Price Target Lowered to $32.00 at Mizuho

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

Several other research analysts have also weighed in on NOG. Citigroup boosted their price objective on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Raymond James Financial restated a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Bank of America boosted their price objective on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Morgan Stanley reduced their target price on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. Finally, Royal Bank Of Canada reduced their target price on shares of Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $38.78.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock traded down $0.29 during trading on Wednesday, hitting $27.24. 2,044,397 shares of the stock were exchanged, compared to its average volume of 1,615,180. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 5.14 and a beta of 1.50. The company has a fifty day moving average price of $29.08 and a 200-day moving average price of $30.45. Northern Oil and Gas has a 1-year low of $19.88 and a 1-year high of $44.31. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.96.

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

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is currently 28.04%.

Institutional Trading of Northern Oil and Gas

A number of institutional investors have recently bought and sold shares of NOG. Proficio Capital Partners LLC bought a new stake in Northern Oil and Gas in the 4th quarter valued at about $909,000. Avantax Advisory Services Inc. boosted its holdings in Northern Oil and Gas by 2.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company's stock valued at $487,000 after purchasing an additional 298 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Northern Oil and Gas in the 4th quarter valued at about $1,676,000. Swiss National Bank boosted its holdings in Northern Oil and Gas by 5.3% in the 4th quarter. Swiss National Bank now owns 187,100 shares of the company's stock valued at $6,953,000 after purchasing an additional 9,500 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Northern Oil and Gas by 7.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,377 shares of the company's stock valued at $386,000 after purchasing an additional 764 shares during the period. 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.