Northern Oil and Gas (NYSE:NOG) Stock Price Down 4.6% - Should You Sell?

Key Points

• Northern Oil and Gas stock price fell by 4.6% to $25.97 after trading at a low of $25.75, with current trading volume down 89% from average levels.
• Analysts have mixed views on the stock, with Citigroup upgrading its price target to $38, while Morgan Stanley downgraded it to an "underweight" rating with a target of $27.
• The company reported a strong quarterly earnings with a net revenue of $706.81 million, surpassing estimates and reflecting a 26.0% year-over-year increase.

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report)'s stock price traded down 4.6% during mid-day trading on Monday . The stock traded as low as $25.75 and last traded at $25.97. 208,629 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 1,816,286 shares. The stock had previously closed at $27.21.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. William Blair assumed coverage on shares of Northern Oil and Gas in a research report on Monday, August 25th. They issued an "outperform" rating for the company. Citigroup increased their price target on shares of Northern Oil and Gas from $34.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Morgan Stanley lowered shares of 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 report on Monday, August 18th. Piper Sandler reissued a "neutral" rating and issued a $25.00 price target (down previously from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Finally, Royal Bank Of Canada dropped their price target on shares of Northern Oil and Gas from $34.00 to $33.00 and set a "sector perform" rating for the company in a research report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.44.

Northern Oil and Gas Price Performance

The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. The company's 50 day moving average price is $25.86 and its 200 day moving average price is $27.02. The firm has a market capitalization of $2.52 billion, a P/E ratio of 4.26 and a beta of 1.67.

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

Northern Oil and Gas Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas's dividend payout ratio is 29.70%.

Hedge Funds Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Teacher Retirement System of Texas boosted its stake in Northern Oil and Gas by 2.9% in the second quarter. Teacher Retirement System of Texas now owns 14,270 shares of the company's stock valued at $405,000 after acquiring an additional 402 shares during the last quarter. Signaturefd LLC boosted its stake in 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 last quarter. Byrne Asset Management LLC boosted its stake in Northern Oil and Gas by 54.9% in the first quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock valued at $41,000 after acquiring an additional 483 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Northern Oil and Gas by 26.7% during the first quarter. Fifth Third Bancorp now owns 2,480 shares of the company's stock worth $75,000 after purchasing an additional 523 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Northern Oil and Gas by 133.3% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 954 shares of the company's stock worth $27,000 after purchasing an additional 545 shares in the last quarter. 98.80% of the stock is 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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