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

Key Points

• Consensus "Hold": Nine analysts give Northern Oil and Gas a consensus rating of Hold (1 sell, 4 hold, 3 buy, 1 strong buy) with an average 1‑year price target of about $31.29.
• Recent quarter beat estimates — the company reported $0.83 EPS vs. $0.71 expected and revenue of $610.18M vs. $525M expected, while analysts forecast ~3.32 EPS for the current fiscal year.
• Shareholder returns and ownership: the company declared a quarterly dividend of $0.45 ($1.80 annualized) implying a 6.8% yield but an extremely high 545.45% payout ratio, and roughly 98.8% of the stock is held by institutional investors.

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) has been assigned a consensus rating of "Hold" from the nine research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $31.2857.

Several equities analysts have commented on the company. Weiss Ratings reiterated a "hold (c-)" rating on shares of Northern Oil and Gas in a research report on Tuesday, April 21st. Mizuho set a $29.00 price objective on Northern Oil and Gas in a research note on Wednesday, January 21st. Morgan Stanley reiterated an "underweight" rating on shares of Northern Oil and Gas in a report on Friday, March 27th. Piper Sandler lifted their target price on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, March 12th. Finally, Royal Bank Of Canada reduced their target price on shares of Northern Oil and Gas from $33.00 to $30.00 and set a "sector perform" rating on the stock in a report on Tuesday, January 20th.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $26.66 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.13. The stock has a market cap of $2.82 billion, a PE ratio of 80.77 and a beta of 0.94. Northern Oil and Gas has a 12-month low of $20.18 and a 12-month high of $32.62. The business's 50-day moving average price is $27.65 and its two-hundred day moving average price is $24.39.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.12. The firm had revenue of $610.18 million during the quarter, compared to analysts' expectations of $524.98 million. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.74%. The business's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.11 earnings per share. As a group, analysts expect that Northern Oil and Gas will post 3.32 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, March 30th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Monday, March 30th. Northern Oil and Gas's payout ratio is 545.45%.

Institutional Trading of Northern Oil and Gas

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tributary Capital Management LLC boosted its stake in Northern Oil and Gas by 146.3% during the 3rd quarter. Tributary Capital Management LLC now owns 1,312,256 shares of the company's stock valued at $32,544,000 after purchasing an additional 779,492 shares during the last quarter. Channing Capital Management LLC raised its stake in shares of Northern Oil and Gas by 15.7% in the third quarter. Channing Capital Management LLC now owns 1,702,177 shares of the company's stock worth $42,214,000 after purchasing an additional 230,899 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of Northern Oil and Gas by 390.1% in the third quarter. Campbell & CO Investment Adviser LLC now owns 72,721 shares of the company's stock worth $1,803,000 after purchasing an additional 57,882 shares during the last quarter. 12th Street Asset Management Company LLC lifted its holdings in shares of Northern Oil and Gas by 20.0% in the third quarter. 12th Street Asset Management Company LLC now owns 240,730 shares of the company's stock valued at $5,970,000 after purchasing an additional 40,181 shares in the last quarter. Finally, Maridea Wealth Management LLC bought a new position in shares of Northern Oil and Gas in the third quarter valued at approximately $1,307,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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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