Northern Oil and Gas (NYSE:NOG) Cut to “Neutral” at Mizuho

Mizuho downgraded shares of Northern Oil and Gas (NYSE:NOG) from an outperform rating to a neutral rating in a research report report published on Monday morning, Marketbeat reports. The firm currently has $47.00 target price on the stock.

NOG has been the topic of a number of other research reports. Morgan Stanley cut their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Piper Sandler upped their price objective on Northern Oil and Gas from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Truist Financial increased their price objective on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. Finally, Royal Bank of Canada cut shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.20.

Northern Oil and Gas Trading Down 4.4 %

NOG stock opened at $36.81 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The business’s 50-day moving average is $39.84 and its 200 day moving average is $38.72. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 4.42 and a beta of 1.85. Northern Oil and Gas has a 12-month low of $31.13 and a 12-month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The firm had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. During the same quarter in the prior year, the firm posted $1.73 earnings per share. Northern Oil and Gas’s quarterly revenue was up 140.0% on a year-over-year basis. On average, sell-side analysts anticipate that Northern Oil and Gas will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Insider Buying and Selling

In related news, CFO Chad W. Allen sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now owns 83,792 shares in the company, valued at $3,351,680. This trade represents a 1.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,508 shares of company stock worth $248,113. 2.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Northern Oil and Gas

Institutional investors and hedge funds have recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Northern Oil and Gas by 1.4% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock worth $849,000 after purchasing an additional 320 shares during the period. Easterly Investment Partners LLC boosted its holdings in shares of Northern Oil and Gas by 0.8% during the third quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock worth $1,792,000 after acquiring an additional 380 shares during the period. Signaturefd LLC increased its position in Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after acquiring an additional 427 shares during the period. CWM LLC raised its position in shares of Northern Oil and Gas by 24.8% in the third quarter. CWM LLC now owns 2,237 shares of the company’s stock valued at $79,000 after buying an additional 444 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Northern Oil and Gas by 2.2% during the 2nd quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock worth $945,000 after purchasing an additional 555 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

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.