Brokerages Set Northern Oil and Gas, Inc. (NYSE:NOG) Target Price at $47.20

Shares of Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $47.20.

Several equities analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a "buy" rating and a $53.00 target price on the stock. Mizuho downgraded shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price objective for the company. in a research report on Monday, December 16th. Royal Bank of Canada lowered Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and lifted their price target for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. Morgan Stanley dropped their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating for the company in a research report on Monday, September 16th. Finally, Truist Financial lifted their target price on Northern Oil and Gas from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, December 13th.

Northern Oil and Gas Price Performance

Shares of NOG stock traded up $0.72 during trading on Tuesday, hitting $39.22. The company had a trading volume of 1,010,645 shares, compared to its average volume of 1,022,285. The firm has a market capitalization of $3.92 billion, a P/E ratio of 4.71 and a beta of 1.85. Northern Oil and Gas has a one year low of $31.13 and a one year high of $44.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The stock's 50-day moving average price is $39.53 and its 200 day moving average price is $38.64.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last released 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 firm had revenue of $753.64 million during 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 company's revenue was up 140.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 EPS. Equities analysts expect 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 issued 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 of this dividend is Monday, December 30th. Northern Oil and Gas's payout ratio is 20.17%.

Hedge Funds Weigh In On Northern Oil and Gas

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Northern Oil and Gas by 45.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company's stock worth $93,744,000 after buying an additional 789,985 shares during the period. American Century Companies Inc. raised its position in shares of Northern Oil and Gas by 11.0% during the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company's stock worth $206,905,000 after acquiring an additional 552,645 shares during the last quarter. abrdn plc acquired a new position in shares of Northern Oil and Gas in the third quarter worth approximately $17,096,000. Bridgewater Associates LP boosted its holdings in Northern Oil and Gas by 135.6% in the third quarter. Bridgewater Associates LP now owns 511,170 shares of the company's stock valued at $18,101,000 after acquiring an additional 294,223 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in Northern Oil and Gas by 41.4% in the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company's stock valued at $33,320,000 after acquiring an additional 275,704 shares during 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.