Northern Oil and Gas, Inc. (NYSE:NOG) Receives $36.89 Average PT from Brokerages

Key Points

• Northern Oil and Gas, Inc. has received a consensus rating of "Moderate Buy" from analysts, with an average twelve-month price target of $36.89.
• The company reported earnings per share of $1.37 for the last quarter, exceeding analysts' expectations, and showed a 26% year-over-year revenue increase.
• Northern Oil and Gas declared a quarterly dividend of $0.45 per share, representing a 7.8% yield, with the payment scheduled for October 31st.

Shares of Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $36.8889.

A number of equities research analysts recently weighed in on the stock. Piper Sandler restated a "neutral" rating and set a $25.00 price objective (down from $31.00) on shares of Northern Oil and Gas in a research note on Monday, August 4th. Morgan Stanley cut shares of Northern Oil and Gas from a "positive" rating to an "underweight" rating and cut their price objective for the company from $29.00 to $27.00 in a research note on Monday, August 18th. Royal Bank Of Canada cut 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 note on Monday, July 14th. Mizuho cut their price objective on shares of Northern Oil and Gas from $33.00 to $32.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 16th. Finally, Bank of America lifted 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 note on Friday, May 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in shares of Northern Oil and Gas by 2.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 14,270 shares of the company's stock valued at $405,000 after purchasing an additional 402 shares during the period. Signaturefd LLC boosted its position in shares of Northern Oil and Gas by 60.0% in the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after purchasing an additional 405 shares during the period. Van Den Berg Management I Inc. boosted its position in shares of Northern Oil and Gas by 1.2% in the 4th quarter. Van Den Berg Management I Inc. now owns 36,895 shares of the company's stock valued at $1,371,000 after purchasing an additional 446 shares during the period. Byrne Asset Management LLC boosted its position in shares of Northern Oil and Gas by 54.9% in the 1st quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock valued at $41,000 after purchasing an additional 483 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Northern Oil and Gas by 26.7% in the 1st quarter. Fifth Third Bancorp now owns 2,480 shares of the company's stock valued at $75,000 after purchasing an additional 523 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Stock Performance

Shares of NOG traded up $1.3440 during midday trading on Wednesday, hitting $25.0640. 1,873,946 shares of the stock traded hands, compared to its average volume of 1,946,807. Northern Oil and Gas has a 1-year low of $19.88 and a 1-year high of $44.31. The firm has a market capitalization of $2.45 billion, a PE ratio of 4.14 and a beta of 1.55. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.21 and a current ratio of 1.21. The business's 50 day moving average price is $27.76 and its two-hundred day moving average price is $28.08.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.50. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. The company had revenue of $706.81 million during the quarter, compared to the consensus estimate of $555.54 million. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company's revenue for the quarter was up 26.0% compared to the same quarter last year. Equities research analysts predict that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas's payout ratio is presently 29.70%.

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.