Northern Oil and Gas, Inc. (NYSE:NOG) Receives $47.56 Average Price Target from Brokerages

Shares of Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $47.56.

Several equities research analysts recently issued reports on NOG shares. Mizuho lowered shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price target on the stock. in a report on Monday, December 16th. Royal Bank of Canada reissued a "sector perform" rating and set a $45.00 target price on shares of Northern Oil and Gas in a research report on Friday, January 10th. Piper Sandler dropped their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 29th. Finally, Truist Financial boosted their target price on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, January 13th.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 836 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the transaction, the president now directly owns 96,223 shares of the company's stock, valued at $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 1,836 shares of company stock valued at $72,869 over the last 90 days. Insiders own 2.80% of the company's stock.

Hedge Funds Weigh In On Northern Oil and Gas

Hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in shares of Northern Oil and Gas by 10.2% during the second quarter. The Manufacturers Life Insurance Company now owns 56,288 shares of the company's stock valued at $2,092,000 after acquiring an additional 5,192 shares during the last quarter. Algert Global LLC purchased a new position in Northern Oil and Gas in the 2nd quarter valued at approximately $340,000. Creative Planning lifted its holdings in Northern Oil and Gas by 80.6% during the 2nd quarter. Creative Planning now owns 23,712 shares of the company's stock worth $881,000 after purchasing an additional 10,580 shares in the last quarter. Quarry LP lifted its holdings in shares of Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company's stock worth $42,000 after buying an additional 874 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Northern Oil and Gas by 39.2% during the 3rd quarter. SG Americas Securities LLC now owns 161,569 shares of the company's stock worth $5,721,000 after acquiring an additional 45,524 shares during the period. Institutional investors own 98.80% of the company's stock.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG traded up $1.02 during trading on Friday, reaching $36.87. 1,368,042 shares of the company traded hands, compared to its average volume of 1,401,897. The firm has a market capitalization of $3.68 billion, a PE ratio of 4.43 and a beta of 1.82. 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 52 week low of $31.13 and a 52 week high of $44.31. The company's 50 day moving average is $39.33 and its two-hundred day moving average is $38.70.

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 firm 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 company's revenue was up 140.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.73 EPS. As a group, sell-side analysts predict that Northern Oil and Gas will post 5.3 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Friday, March 28th. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio (DPR) is currently 21.61%.

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.