Analysts Set Northern Oil and Gas, Inc. (NYSE:NOG) PT at $47.20

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $47.20.

A number of research firms have weighed in on NOG. Piper Sandler decreased their price objective on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Morgan Stanley reduced their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Truist Financial raised their price objective on 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 Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price on the stock. Finally, Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research report on Monday, December 16th.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total value of $32,604.00. Following the completion of the transaction, the president now directly owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.80% of the company’s stock.

Institutional Trading of Northern Oil and Gas

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. increased its position in Northern Oil and Gas by 1.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 141,100 shares of the company’s stock worth $5,243,000 after buying an additional 2,636 shares during the period. Range Financial Group LLC bought a new position in shares of Northern Oil and Gas during the fourth quarter worth about $332,000. Insight Wealth Strategies LLC increased its holdings in shares of Northern Oil and Gas by 2.7% in the 4th quarter. Insight Wealth Strategies LLC now owns 28,550 shares of the company’s stock worth $1,061,000 after acquiring an additional 751 shares during the period. Doliver Advisors LP lifted its position in Northern Oil and Gas by 2.9% in the 4th quarter. Doliver Advisors LP now owns 28,667 shares of the company’s stock valued at $1,065,000 after purchasing an additional 800 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Northern Oil and Gas by 21.0% during the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after purchasing an additional 368 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Trading Up 1.3 %

Shares of NOG stock opened at $39.93 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $44.31. The firm’s 50 day moving average price is $39.79 and its two-hundred day moving average price is $38.68. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 4.79 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results 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. The business had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The company’s revenue for the quarter was up 140.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.73 earnings per share. On average, analysts anticipate that Northern Oil and Gas will post 5.4 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a $0.42 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.21%. Northern Oil and Gas’s payout ratio is currently 20.17%.

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.