Northern Oil and Gas, Inc. (NYSE:NOG) Given Average Recommendation of “Hold” by Analysts

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have earned a consensus recommendation of “Hold” from the ten research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $30.6250.

NOG has been the subject of several research reports. Raymond James Financial reiterated an “outperform” rating and issued a $28.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, July 15th. Wall Street Zen lowered shares of Northern Oil and Gas from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings upgraded shares of Northern Oil and Gas from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday. Citigroup decreased their target price on shares of Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, July 20th. Finally, Morgan Stanley set a $25.00 target price on shares of Northern Oil and Gas and gave the company an “underweight” rating in a report on Monday, June 29th.

Northern Oil and Gas Trading Down 0.5%

NYSE NOG opened at $24.12 on Thursday. The firm has a market capitalization of $2.57 billion, a PE ratio of -4.66 and a beta of 0.70. The stock’s 50 day moving average is $20.26 and its 200 day moving average is $24.08. Northern Oil and Gas has a twelve month low of $17.18 and a twelve month high of $31.17. The company has a quick ratio of 0.53, a current ratio of 0.80 and a debt-to-equity ratio of 1.37.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%.The firm had revenue of $745.24 million during the quarter, compared to the consensus estimate of $594.09 million. During the same quarter last year, the company posted $1.37 EPS. Northern Oil and Gas’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts forecast that Northern Oil and Gas will post 3.53 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Tuesday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Tuesday, September 29th. Northern Oil and Gas’s dividend payout ratio (DPR) is -34.75%.

Insiders Place Their Bets

In related news, Director Bahram Akradi acquired 25,760 shares of the stock in a transaction on Monday, June 22nd. The stock was acquired at an average price of $19.40 per share, for a total transaction of $499,744.00. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Northern Oil and Gas

Institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Northern Oil and Gas in the 2nd quarter worth about $29,000. Allworth Financial LP bought a new position in Northern Oil and Gas in the 2nd quarter worth about $31,000. Virtus Advisers LLC purchased a new stake in Northern Oil and Gas during the 2nd quarter valued at about $372,000. Ninepoint Partners LP purchased a new stake in Northern Oil and Gas during the 2nd quarter valued at about $1,815,000. Finally, First National Bank of Omaha bought a new stake in Northern Oil and Gas during the 2nd quarter valued at about $1,391,000. 98.80% of the stock is owned by hedge funds and other institutional investors.

About Northern Oil and Gas

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.