Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $20.38 and last traded at $20.61, with a volume of 3635552 shares trading hands. The stock had previously closed at $22.54.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the company. Capital One Financial downgraded Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 21st. Citigroup decreased their price objective on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. 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 note on Monday, January 13th. Mizuho downgraded shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price target for the company. in a report on Monday, December 16th. Finally, Royal Bank of Canada reduced 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 research note on Thursday, February 13th. One 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, the company has a consensus rating of "Hold" and a consensus target price of $45.44.
Read Our Latest Analysis on Northern Oil and Gas
Northern Oil and Gas Trading Up 1.8 %
The firm has a fifty day moving average of $30.04 and a 200-day moving average of $35.91. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 4.45 and a beta of 1.49.
Northern Oil and Gas (NYSE:NOG - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The company had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. As a group, equities analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current fiscal year.
Northern Oil and Gas Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.87%. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 35.02%.
Northern Oil and Gas declared that its Board of Directors has approved a share repurchase program on Tuesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling at Northern Oil and Gas
In related news, CEO Nicholas L. O'grady purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the purchase, the chief executive officer now owns 226,189 shares in the company, valued at approximately $6,215,673.72. This represents a 0.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bahram Akradi purchased 40,000 shares of the business's stock in a transaction that occurred 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 completion of the acquisition, the director now directly owns 1,662,016 shares of the company's stock, valued at $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Northern Oil and Gas
Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in shares of Northern Oil and Gas in the 4th quarter worth approximately $21,691,000. Channing Capital Management LLC increased its stake in Northern Oil and Gas by 26.8% during the fourth quarter. Channing Capital Management LLC now owns 1,766,623 shares of the company's stock valued at $65,648,000 after purchasing an additional 373,917 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Northern Oil and Gas by 3.9% during the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company's stock worth $242,937,000 after purchasing an additional 243,531 shares during the period. Natixis acquired a new stake in Northern Oil and Gas during the fourth quarter worth about $7,503,000. Finally, Ninepoint Partners LP acquired a new position in Northern Oil and Gas in the fourth quarter valued at approximately $7,432,000. Institutional investors and hedge funds own 98.80% of the company's stock.
About Northern Oil and Gas
(
Get Free Report)
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.
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