Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $31.15, but opened at $32.55. Northern Oil and Gas shares last traded at $32.22, with a volume of 1,840,351 shares trading hands.
Analysts Set New Price Targets
A number of brokerages recently weighed in on NOG. Raymond James restated a "strong-buy" rating on shares of Northern Oil and Gas in a research note on Tuesday, May 13th. Royal Bank of Canada cut their price objective on shares of Northern Oil and Gas from $40.00 to $34.00 and set a "sector perform" rating on the stock in a research note on Monday, April 14th. Morgan Stanley cut their price objective on shares of Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Capital One Financial cut shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 21st. Finally, Piper Sandler lowered their target price on Northern Oil and Gas from $34.00 to $30.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $39.67.
Check Out Our Latest Stock Report on Northern Oil and Gas
Northern Oil and Gas Price Performance
The stock has a 50 day moving average of $26.01 and a two-hundred day moving average of $32.21. The stock has a market cap of $3.18 billion, a PE ratio of 6.27 and a beta of 1.51. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92.
Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.21. The firm had revenue of $602.10 million for the quarter, compared to analysts' expectations of $568.87 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. Northern Oil and Gas's revenue was up 51.9% on a year-over-year basis. During the same quarter last year, the business posted $1.28 EPS. Equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.
Northern Oil and Gas Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Friday, June 27th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a yield of 5.59%. Northern Oil and Gas's payout ratio is presently 28.04%.
Northern Oil and Gas announced that its Board of Directors has approved a share buyback program on Tuesday, March 11th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.
Institutional Investors Weigh In On Northern Oil and Gas
Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in Northern Oil and Gas during the 4th quarter worth about $29,000. Pinnacle Holdings LLC acquired a new stake in Northern Oil and Gas during the 1st quarter worth about $28,000. Signaturefd LLC boosted its position in Northern Oil and Gas by 60.0% during the 1st quarter. Signaturefd LLC now owns 1,080 shares of the company's stock worth $33,000 after acquiring an additional 405 shares during the period. Jones Financial Companies Lllp boosted 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 worth $33,000 after acquiring an additional 713 shares during the period. Finally, Blue Trust Inc. boosted its position in Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after acquiring an additional 801 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.
About Northern Oil and Gas
(
Get Free Report)
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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