Northern Oil and Gas, Inc. (NYSE:NOG) Stock Has Consensus Target Price of $31.00

Northern Oil and Gas, Inc. (NYSE:NOG) has been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $31.00.

Several research analysts recently issued reports on the stock. Mizuho raised shares of Northern Oil and Gas to a “hold” rating in a research note on Friday, July 31st. Morgan Stanley set a $25.00 price target on shares of Northern Oil and Gas and gave the company an “underweight” rating in a research note on Monday, June 29th. Wall Street Zen upgraded shares of Northern Oil and Gas from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Citigroup cut their price objective on shares of Northern Oil and Gas from $36.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, July 20th. Finally, Raymond James Financial restated an “outperform” rating and issued a $31.00 target price (up from $28.00) on shares of Northern Oil and Gas in a research note on Thursday, September 10th.

Hedge Funds Weigh In On Northern Oil and Gas

Institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in Northern Oil and Gas by 23.4% during the second quarter. The Manufacturers Life Insurance Company now owns 50,521 shares of the company’s stock worth $917,000 after buying an additional 9,594 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Northern Oil and Gas during the second quarter valued at about $279,000. Tidal Investments LLC grew its holdings in shares of Northern Oil and Gas by 16.1% during the second quarter. Tidal Investments LLC now owns 48,313 shares of the company’s stock valued at $877,000 after buying an additional 6,712 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Northern Oil and Gas during the second quarter worth about $1,330,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Northern Oil and Gas during the second quarter worth about $105,000. 98.80% of the stock is owned by institutional investors and hedge funds.

Northern Oil and Gas Price Performance

Shares of NOG opened at $23.54 on Friday. Northern Oil and Gas has a 52-week low of $17.18 and a 52-week high of $31.17. 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 business’s 50 day moving average price is $24.18 and its two-hundred day moving average price is $23.80. The firm has a market cap of $2.51 billion, a PE ratio of -4.54 and a beta of 0.90.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results 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). The business had revenue of $745.24 million for the quarter, compared to the consensus estimate of $594.09 million. Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%.Northern Oil and Gas’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.37 earnings per share. On average, equities analysts anticipate that Northern Oil and Gas will post 3.63 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Tuesday, September 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date of this dividend is Tuesday, September 29th. Northern Oil and Gas’s dividend payout ratio (DPR) is -34.75%.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, exploration, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests in wells, allowing it to participate in hydrocarbon development without serving as the principal operator.

Northern Oil and Gas has built a diversified portfolio across several major U.S. oil and natural gas regions, including the Williston Basin, the Permian Basin and the Appalachian Basin.