Northern Oil and Gas (NYSE:NOG) Stock Crosses Below 50 Day Moving Average - Time to Sell?

Key Points

• Northern Oil and Gas shares fell below their 50-day moving average, trading as low as $24.97 versus the average of $25.69, and were down 3.1% in the session.
• Analysts have a consensus “Hold” rating and an average price target of $31.56; recent targets ranged from $26 at Morgan Stanley to $32 at Citigroup.
• The company reported quarterly EPS of $1.13, below the $1.18 estimate, while revenue rose 5.4% year over year to $745.24 million. It also declared a $0.45 quarterly dividend, equivalent to a stated 7.2% yield.

Shares of Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $25.69 and traded as low as $24.97. Northern Oil and Gas shares last traded at $24.9940, with a volume of 2,052,321 shares.

Analyst Ratings Changes

A number of brokerages recently commented on NOG. Weiss Ratings upgraded Northern Oil and Gas from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday. Morgan Stanley reiterated an "underweight" rating and set a $26.00 price target (up from $25.00) on shares of Northern Oil and Gas in a research note on Thursday, October 15th. Mizuho lifted their price target on shares of Northern Oil and Gas from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 14th. Citigroup boosted their price target on shares of Northern Oil and Gas from $28.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of Northern Oil and Gas from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Northern Oil and Gas currently has an average rating of "Hold" and an average target price of $31.56.

Northern Oil and Gas Trading Down 3.1%

The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $2.66 billion, a P/E ratio of -4.83 and a beta of 0.85. The company has a 50-day simple moving average of $25.69 and a 200-day simple moving average of $24.54.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.05). Northern Oil and Gas had a negative net margin of 25.35% and a positive return on equity of 18.69%. The company had revenue of $745.24 million for the quarter, compared to the consensus estimate of $594.09 million. During the same period last year, the company earned $1.37 earnings per share. Northern Oil and Gas's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Northern Oil and Gas, Inc. will post 3.84 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Stockholders of record on Wednesday, December 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Wednesday, December 30th. Northern Oil and Gas's dividend payout ratio (DPR) is currently -34.75%.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors have recently modified their holdings of NOG. Ascentis Independent Advisors acquired a new position in shares of Northern Oil and Gas during the 1st quarter worth about $33,000. Root Financial Partners LLC bought a new stake in shares of Northern Oil and Gas in the 3rd quarter valued at about $28,000. Triumph Capital Management raised its holdings in shares of Northern Oil and Gas by 77.8% in the 3rd quarter. Triumph Capital Management now owns 1,600 shares of the company's stock valued at $37,000 after purchasing an additional 700 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in Northern Oil and Gas in the 2nd quarter valued at about $29,000. Finally, Allworth Financial LP acquired a new stake in Northern Oil and Gas in the 2nd quarter valued at about $31,000. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests, allowing it to participate in wells drilled and managed by other exploration and production companies while maintaining exposure to a broad portfolio of oil and gas assets.

Northern Oil and Gas has historically focused on properties in the Williston Basin of North Dakota and Montana and has expanded its operations into other major U.S.

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