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

Key Points

• Northern Oil and Gas, Inc. has received a consensus recommendation of "Hold" from eleven analysts, with varying ratings including one sell, five hold, four buy, and one strong buy.
• The firm's quarterly earnings exceeded expectations, reporting $1.37 EPS against estimates of $0.87, with revenue of $706.81 million, showing a 26% increase year-over-year.
• Northern Oil and Gas recently announced a quarterly dividend of $0.45 per share, resulting in an annualized dividend yield of 7.3%.

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) has been assigned a consensus rating of "Hold" from the eleven brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $34.3750.

Several research firms recently issued reports on NOG. Mizuho reduced their target price on shares of Northern Oil and Gas from $32.00 to $28.00 and set a "neutral" rating for the company in a report on Monday, September 15th. William Blair initiated coverage on Northern Oil and Gas in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Morgan Stanley downgraded Northern Oil and Gas from a "positive" rating to an "underweight" rating and dropped their price target for the stock from $29.00 to $27.00 in a research note on Monday, August 18th. Piper Sandler restated a "neutral" rating and issued a $25.00 price target (down from $31.00) on shares of Northern Oil and Gas in a research note on Monday, August 4th. Finally, Royal Bank Of Canada dropped their price target on Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a research note on Monday, July 14th.

Northern Oil and Gas Trading Down 0.6%

Northern Oil and Gas stock opened at $24.70 on Thursday. The firm has a 50 day moving average of $25.31 and a 200 day moving average of $26.78. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 4.08 and a beta of 1.61. Northern Oil and Gas has a 12-month low of $19.88 and a 12-month high of $44.31. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98.

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

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas's dividend payout ratio is currently 29.70%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NOG. MassMutual Private Wealth & Trust FSB boosted its position in shares of Northern Oil and Gas by 133.3% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company's stock valued at $27,000 after acquiring an additional 545 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Northern Oil and Gas by 200.3% during the 2nd quarter. UMB Bank n.a. now owns 955 shares of the company's stock valued at $27,000 after acquiring an additional 637 shares during the last quarter. Pinnacle Holdings LLC bought a new position in shares of Northern Oil and Gas during the 1st quarter valued at approximately $28,000. Laurel Wealth Advisors LLC boosted its position in shares of Northern Oil and Gas by 2,736.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company's stock valued at $29,000 after acquiring an additional 985 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Northern Oil and Gas by 60.0% during the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock valued at $33,000 after acquiring an additional 405 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

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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