Northern Oil and Gas (NYSE:NOG) Reaches New 52-Week Low - Should You Sell?

Key Points

• Northern Oil and Gas hit a new 52-week low, trading as low as $17.22, well below its recent close of $17.95.
• Analysts are mixed on the stock: recent cuts include Wall Street Zen and Johnson Rice lowering ratings to Hold, and the overall consensus is now Hold with an average price target of $31.88.
• The company reported mixed fundamentals, including Q1 EPS of $0.74 beating estimates, but revenue and year-over-year performance weakened; it also declared a $0.45 quarterly dividend yielding about 10.3%.

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $17.22 and last traded at $17.3560, with a volume of 438085 shares changing hands. The stock had previously closed at $17.95.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Northern Oil and Gas from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Johnson Rice lowered Northern Oil and Gas from an "accumulate" rating to a "hold" rating and set a $36.00 target price for the company. in a research report on Wednesday, May 20th. Raymond James Financial set a $30.00 target price on Northern Oil and Gas and gave the company an "outperform" rating in a research note on Monday, June 15th. Bank of America increased their price target on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Finally, Piper Sandler raised their price target on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, March 12th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Northern Oil and Gas has a consensus rating of "Hold" and an average price target of $31.88.

Northern Oil and Gas Price Performance

The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market capitalization of $1.91 billion, a P/E ratio of -2.76 and a beta of 0.69. The stock's 50 day simple moving average is $22.22 and its 200 day simple moving average is $24.30.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.03. The business had revenue of $5.03 million for the quarter, compared to analyst estimates of $511.38 million. Northern Oil and Gas had a negative net margin of 33.17% and a positive return on equity of 18.43%. The company's quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company posted $1.33 earnings per share. As a group, analysts expect that Northern Oil and Gas, Inc. will post 3.33 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, June 29th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 10.3%. The ex-dividend date is Monday, June 29th. Northern Oil and Gas's dividend payout ratio (DPR) is presently -28.26%.

Insiders Place Their Bets

In other news, Director Bahram Akradi bought 25,760 shares of the stock in a transaction on Monday, June 22nd. The stock was acquired at an average cost of $19.40 per share, for a total transaction of $499,744.00. Following the acquisition, the director owned 1,713,444 shares of the company's stock, valued at $33,240,813.60. This represents a 1.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors have recently made changes to their positions in NOG. Ascentis Independent Advisors purchased a new stake in Northern Oil and Gas in the first quarter worth about $33,000. Jones Financial Companies Lllp increased its position in Northern Oil and Gas by 181.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company's stock valued at $33,000 after purchasing an additional 713 shares during the period. Global Retirement Partners LLC raised its holdings in shares of Northern Oil and Gas by 572.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company's stock valued at $36,000 after purchasing an additional 1,432 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of Northern Oil and Gas in the 4th quarter valued at about $43,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Northern Oil and Gas by 429.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company's stock worth $43,000 after purchasing an additional 1,228 shares during the period. Hedge funds and other institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Company Profile

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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