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

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) has received an average rating of "Moderate Buy" from the ten research firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $39.67.

Several equities analysts have commented on NOG shares. Mizuho dropped their price target on shares of Northern Oil and Gas from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Bank of America boosted their target price on Northern Oil and Gas from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Raymond James Financial reiterated a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Morgan Stanley reduced their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Finally, Piper Sandler lowered their target price on shares of Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th.

Northern Oil and Gas Price Performance

Northern Oil and Gas stock opened at $28.32 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 4.41 and a beta of 1.51. The company's 50 day simple moving average is $27.78 and its 200-day simple moving average is $31.09. Northern Oil and Gas has a 1 year low of $19.88 and a 1 year high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.21. Northern Oil and Gas had a return on equity of 23.46% and a net margin of 26.64%. The company had revenue of $602.10 million for the quarter, compared to analysts' expectations of $568.87 million. During the same period in the prior year, the firm earned $1.28 earnings per share. The firm's revenue was up 51.9% compared to the same quarter last year. As a group, equities research analysts expect that Northern Oil and Gas will post 5.18 earnings per share for the current year.

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

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.36%. The ex-dividend date is Friday, June 27th. Northern Oil and Gas's dividend payout ratio is presently 28.04%.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors have recently bought and sold shares of NOG. State of Alaska Department of Revenue boosted its holdings in shares of Northern Oil and Gas by 25.3% in the first quarter. State of Alaska Department of Revenue now owns 97,025 shares of the company's stock valued at $2,932,000 after acquiring an additional 19,586 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Northern Oil and Gas by 297.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock valued at $77,000 after purchasing an additional 1,570 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Northern Oil and Gas in the 4th quarter valued at approximately $909,000. Woodline Partners LP acquired a new position in Northern Oil and Gas during the 4th quarter worth approximately $997,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Northern Oil and Gas by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,058,899 shares of the company's stock worth $39,349,000 after buying an additional 73,256 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

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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