Northern Oil and Gas (NYSE:NOG) Reaches New 1-Year Low - What's Next?

Shares of Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $26.21 and last traded at $26.38, with a volume of 1685504 shares traded. The stock had previously closed at $30.60.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NOG. Morgan Stanley decreased their price target on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 27th. Citigroup decreased their target price on shares of Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, February 25th. Capital One Financial downgraded shares of Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Royal Bank of Canada decreased their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a "sector perform" rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler dropped their target price on shares of 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $45.44.

Northern Oil and Gas Stock Down 8.6 %

The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The firm's 50-day moving average price is $31.08 and its 200 day moving average price is $36.27. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 4.01 and a beta of 1.49.

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Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.16). The company had revenue of $545.47 million during the quarter, compared to analysts' expectations of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Sell-side analysts expect that Northern Oil and Gas, Inc. will post 5.18 EPS for the current year.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 8.73%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio (DPR) is currently 35.02%.

Northern Oil and Gas declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, Director Bahram Akradi purchased 40,000 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the acquisition, the director now owns 1,662,016 shares of the company's stock, valued at approximately $46,586,308.48. The trade was a 2.47 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nicholas L. O'grady acquired 1,000 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the acquisition, the chief executive officer now directly owns 226,189 shares of the company's stock, valued at approximately $6,215,673.72. The trade was a 0.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NOG. Smartleaf Asset Management LLC grew its stake in shares of Northern Oil and Gas by 297.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company's stock valued at $77,000 after buying an additional 1,570 shares during the period. Principal Financial Group Inc. boosted its holdings in Northern Oil and Gas by 2.5% in the 4th quarter. Principal Financial Group Inc. now owns 481,797 shares of the company's stock worth $17,904,000 after acquiring an additional 11,690 shares during the period. State of Alaska Department of Revenue grew its holdings in Northern Oil and Gas by 36.1% during the 4th quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company's stock valued at $2,877,000 after purchasing an additional 20,550 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Northern Oil and Gas in the 4th quarter valued at about $909,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Northern Oil and Gas by 7.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,058,899 shares of the company's stock worth $39,349,000 after acquiring an additional 73,256 shares in the last quarter. Institutional investors and hedge funds 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.