Analysts Set Northern Oil and Gas, Inc. (NYSE:NOG) Target Price at $46.80

Northern Oil and Gas, Inc. (NYSE:NOG) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $46.80.

Several equities analysts have issued reports on the company. StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Truist Financial dropped their price target on Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Morgan Stanley decreased 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 report on Monday, September 16th. Mizuho started coverage on Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective for the company. Finally, Jefferies Financial Group started coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective for the company.

Insider Buying and Selling

In related news, President Adam A. Dirlam sold 2,508 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the completion of the sale, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the transaction, the insider now owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Adam A. Dirlam sold 2,508 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the transaction, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,008 shares of company stock worth $228,013. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Northern Oil and Gas by 0.4% in the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after purchasing an additional 43,940 shares during the last quarter. American Century Companies Inc. boosted its position in Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after purchasing an additional 552,645 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Northern Oil and Gas by 45.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after purchasing an additional 789,985 shares during the last quarter. Copeland Capital Management LLC boosted its position in Northern Oil and Gas by 0.6% in the third quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock worth $74,245,000 after purchasing an additional 12,079 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in Northern Oil and Gas by 13.8% in the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after purchasing an additional 212,030 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of NOG opened at $37.32 on Thursday. Northern Oil and Gas has a 52-week low of $31.13 and a 52-week high of $43.80. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The business’s 50 day moving average price is $37.46 and its two-hundred day moving average price is $38.91. The firm has a market cap of $3.77 billion, a PE ratio of 6.05 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The firm had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. During the same period in the previous year, the firm earned $1.49 earnings per share. The company’s revenue was up 17.7% compared to the same quarter last year. On average, equities analysts anticipate that Northern Oil and Gas will post 5.44 EPS for the current year.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, September 27th. This represents a $1.68 annualized dividend and a yield of 4.50%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio is 27.23%.

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.