Northern Oil and Gas, Inc. (NYSE:NOG) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Shares of Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) have been given a consensus rating of "Moderate Buy" by the ten research firms that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $46.89.

NOG has been the subject of several analyst reports. Morgan Stanley set a $43.00 price target on Northern Oil and Gas in a report on Wednesday, January 22nd. Piper Sandler reduced their price target on Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, January 29th. Truist Financial lifted their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Royal Bank of Canada reduced their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating for the company in a report on Thursday, February 13th. Finally, Citigroup reduced their price objective on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new position in shares of Northern Oil and Gas during the 3rd quarter valued at about $25,000. Headlands Technologies LLC purchased a new position in shares of Northern Oil and Gas during the 4th quarter valued at about $29,000. Signaturefd LLC lifted its position in shares of Northern Oil and Gas by 100.5% during the 3rd quarter. Signaturefd LLC now owns 852 shares of the company's stock valued at $30,000 after buying an additional 427 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock valued at $44,000 after buying an additional 801 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its position in shares of Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock valued at $51,000 after buying an additional 259 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Down 1.4 %

Northern Oil and Gas stock traded down $0.45 on Wednesday, hitting $31.47. 1,914,041 shares of the stock traded hands, compared to its average volume of 1,483,275. Northern Oil and Gas has a 1 year low of $31.16 and a 1 year high of $44.31. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The business's fifty day simple moving average is $36.96 and its 200 day simple moving average is $38.08. The firm has a market cap of $3.12 billion, a P/E ratio of 6.12 and a beta of 1.82.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. As a group, sell-side analysts forecast that Northern Oil and Gas will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.45 per share. This is an increase from Northern Oil and Gas's previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas's payout ratio is currently 35.02%.

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.