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

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

Other analysts have also issued reports about the company. Truist Financial increased their price objective on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Friday. 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. Piper Sandler increased 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. Jefferies Financial Group began 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 price objective 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 upped their price objective for the stock from $43.00 to $45.00 in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.60.

Northern Oil and Gas Stock Down 3.5 %

NYSE:NOG traded down $1.44 during trading hours on Monday, hitting $39.27. 1,458,962 shares of the company's stock traded hands, compared to its average volume of 1,303,223. The stock's fifty day moving average price is $39.92 and its two-hundred day moving average price is $38.76. The firm has a market cap of $3.92 billion, a P/E ratio of 4.89 and a beta of 1.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. Northern Oil and Gas has a twelve month low of $31.13 and a twelve month high of $44.31.

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

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas's dividend payout ratio is 20.17%.

Insider Activity

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

Institutional Trading of Northern Oil and Gas

Hedge funds have recently modified their holdings of the company. American Century Companies Inc. lifted its position in shares of Northern Oil and Gas by 11.0% during the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company's stock worth $206,905,000 after buying an additional 552,645 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Northern Oil and Gas by 45.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company's stock valued at $93,744,000 after acquiring an additional 789,985 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Northern Oil and Gas by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company's stock worth $80,884,000 after acquiring an additional 100,761 shares in the last quarter. Copeland Capital Management LLC increased its holdings in Northern Oil and Gas by 0.6% during the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company's stock valued at $74,245,000 after purchasing an additional 12,079 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Northern Oil and Gas by 4.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,220,044 shares of the company's stock valued at $45,349,000 after purchasing an additional 49,632 shares during the last quarter. Institutional investors own 98.80% of the company's stock.

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.