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

Key Points

• Analyst sentiment is mixed: Northern Oil and Gas has a consensus “Hold” rating from 10 analysts, split between four buys, four holds and two sells. The average 12-month price target is $30.63.
• The stock was trading at $19.74, near its 12-month low of $17.18 and below its 50-day and 200-day moving averages. The company has a $2.15 billion market capitalization and a debt-to-equity ratio of 1.43.
• Northern Oil and Gas announced a quarterly dividend of $0.45 per share, equivalent to $1.80 annually and a reported 9.1% yield. Director Bahram Akradi also purchased nearly $500,000 of company stock, while institutional investors own 98.8% of shares.

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) has earned a consensus recommendation of "Hold" from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $30.6250.

A number of equities research analysts have commented on the company. Weiss Ratings lowered Northern Oil and Gas from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, July 23rd. Royal Bank Of Canada raised their price objective on Northern Oil and Gas from $30.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 8th. Citigroup cut their price objective 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. Wall Street Zen cut Northern Oil and Gas from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Finally, Morgan Stanley set a $25.00 target price on shares of Northern Oil and Gas and gave the company an "underweight" rating in a research report on Monday, June 29th.

Northern Oil and Gas Stock Performance

NYSE NOG opened at $19.74 on Thursday. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -3.10 and a beta of 0.70. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.43. Northern Oil and Gas has a twelve month low of $17.18 and a twelve month high of $31.17. The stock has a fifty day simple moving average of $20.18 and a 200 day simple moving average of $24.08.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date of this dividend is Tuesday, September 29th. Northern Oil and Gas's dividend payout ratio is currently -28.26%.

Insider Buying and Selling at Northern Oil and Gas

In other news, Director Bahram Akradi acquired 25,760 shares of the firm's stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $19.40 per share, for a total transaction of $499,744.00. Following the completion of the transaction, the director directly owned 1,713,444 shares in the company, valued at $33,240,813.60. This represents a 1.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC grew its holdings in Northern Oil and Gas by 14.9% during the 4th quarter. Quadrant Capital Group LLC now owns 3,092 shares of the company's stock valued at $66,000 after buying an additional 400 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Northern Oil and Gas by 18.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 3,207 shares of the company's stock worth $69,000 after purchasing an additional 507 shares during the period. Virtus Investment Advisers LLC raised its position in shares of Northern Oil and Gas by 8.4% in the fourth quarter. Virtus Investment Advisers LLC now owns 7,394 shares of the company's stock worth $159,000 after buying an additional 572 shares in the last quarter. Isthmus Partners LLC raised its position in shares of Northern Oil and Gas by 0.8% in the first quarter. Isthmus Partners LLC now owns 82,358 shares of the company's stock worth $2,407,000 after buying an additional 619 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Northern Oil and Gas by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 91,485 shares of the company's stock valued at $1,963,000 after buying an additional 633 shares during the period. Institutional investors and hedge funds own 98.80% of the company's stock.

About Northern Oil and Gas

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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