Northern Oil and Gas, Inc. (NYSE:NOG) Given Average Recommendation of "Moderate Buy" by Brokerages

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten brokerages that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $39.67.

A number of research firms recently commented on NOG. 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 report on Tuesday, May 13th. Citigroup decreased their target price on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Capital One Financial cut shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Morgan Stanley decreased their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a report on Thursday, March 27th. Finally, Mizuho dropped their target price on shares of Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th.

Institutional Trading of Northern Oil and Gas

Several large investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new position in shares of Northern Oil and Gas during the 1st quarter valued at about $88,000. Geneos Wealth Management Inc. raised its holdings in Northern Oil and Gas by 11.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,361 shares of the company's stock worth $223,000 after buying an additional 761 shares during the period. Intech Investment Management LLC boosted its stake in Northern Oil and Gas by 41.8% in the 1st quarter. Intech Investment Management LLC now owns 46,453 shares of the company's stock worth $1,404,000 after purchasing an additional 13,690 shares during the period. Woodline Partners LP lifted its holdings in shares of Northern Oil and Gas by 791.9% in the first quarter. Woodline Partners LP now owns 239,245 shares of the company's stock valued at $7,232,000 after purchasing an additional 212,420 shares in the last quarter. Finally, Empowered Funds LLC raised its position in Northern Oil and Gas by 5.0% during the first quarter. Empowered Funds LLC now owns 65,217 shares of the company's stock valued at $1,972,000 after buying an additional 3,124 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Down 1.4%

Shares of NYSE:NOG opened at $27.81 on Friday. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. Northern Oil and Gas has a 12-month low of $19.88 and a 12-month high of $44.31. The business has a 50 day moving average of $25.62 and a two-hundred day moving average of $32.62. The company has a market capitalization of $2.75 billion, a PE ratio of 5.41 and a beta of 1.51.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.21. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business had revenue of $602.10 million for the quarter, compared to the consensus estimate of $568.87 million. During the same period last year, the firm posted $1.28 earnings per share. The company's revenue was up 51.9% compared to the same quarter last year. As a group, analysts forecast that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date of this dividend is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

Northern Oil and Gas announced that its Board of Directors has initiated a stock repurchase program on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

About Northern Oil and Gas

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.

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