Northern Oil and Gas, Inc. (NYSE:NOG) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Northern Oil and Gas, Inc. has received an average consensus rating of "Moderate Buy" from analysts, with varying recommendations, including one sell, four hold, five buy, and one strong buy.
• The company's recent earnings report showed earnings per share (EPS) of $1.37, surpassing analyst expectations of $0.87, and a revenue increase of 26% year-over-year.
• Northern Oil and Gas has announced a quarterly dividend of $0.45 per share, yielding approximately 7.1%, set to be paid on October 31st to stockholders of record on September 29th.

Shares of Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $36.8889.

Several analysts have weighed in on the stock. Mizuho decreased 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. Morgan Stanley lowered 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 report on Monday, August 18th. Bank of America increased their target price on shares of Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. 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 report on Monday, August 4th. Finally, William Blair started coverage on shares of Northern Oil and Gas in a research report on Monday, August 25th. They issued an "outperform" rating for the company.

Institutional Investors Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently made changes to their positions in NOG. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Northern Oil and Gas by 133.3% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company's stock valued at $27,000 after purchasing an additional 545 shares during the last quarter. UMB Bank n.a. grew its position in Northern Oil and Gas by 200.3% during the second quarter. UMB Bank n.a. now owns 955 shares of the company's stock valued at $27,000 after buying an additional 637 shares during the period. Pinnacle Holdings LLC bought a new position in Northern Oil and Gas during the first quarter worth about $28,000. Laurel Wealth Advisors LLC boosted its position in Northern Oil and Gas by 2,736.1% during the second quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company's stock worth $29,000 after purchasing an additional 985 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Northern Oil and Gas by 60.0% in the first 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 period. 98.80% of the stock is owned by institutional investors.

Northern Oil and Gas Trading Down 1.0%

Shares of NYSE:NOG opened at $25.50 on Friday. The stock has a market capitalization of $2.49 billion, a PE ratio of 4.21 and a beta of 1.67. Northern Oil and Gas has a 1 year low of $19.88 and a 1 year high of $44.31. The firm has a fifty day moving average price of $26.46 and a 200 day moving average price of $27.20. 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 for the quarter, topping analysts' consensus estimates of $0.87 by $0.50. The firm 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 business's revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 EPS. Analysts expect that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, September 29th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date is Monday, September 29th. Northern Oil and Gas's dividend payout ratio (DPR) is currently 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.

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