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

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

Several brokerages have weighed in on NOG. Royal Bank of Canada downgraded shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target on the stock. Piper Sandler cut their price objective on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a research report on Monday, December 16th. Finally, Truist Financial increased their price target on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, December 13th.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $39.33 on Tuesday. Northern Oil and Gas has a fifty-two week low of $31.13 and a fifty-two week high of $44.31. The company has a market capitalization of $3.93 billion, a PE ratio of 4.72 and a beta of 1.85. The company has a 50 day moving average price of $39.71 and a 200-day moving average price of $38.67. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.20. The company had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. Northern Oil and Gas’s revenue was up 140.0% compared to the same quarter last year. During the same period last year, the company posted $1.73 earnings per share. As a group, equities analysts forecast that Northern Oil and Gas will post 5.4 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a $0.42 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.27%. Northern Oil and Gas’s dividend payout ratio is presently 20.17%.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now directly owns 96,223 shares in the company, valued at approximately $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors have recently bought and sold shares of the company. Icon Wealth Advisors LLC acquired a new position in Northern Oil and Gas during the third quarter worth about $828,000. American Century Companies Inc. grew its position in shares of 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 valued at $206,905,000 after purchasing an additional 552,645 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in shares of Northern Oil and Gas in the second quarter valued at approximately $625,000. Mutual of America Capital Management LLC lifted its position in Northern Oil and Gas by 16.3% during the second quarter. Mutual of America Capital Management LLC now owns 443,264 shares of the company’s stock worth $16,476,000 after buying an additional 62,254 shares in the last quarter. Finally, Heritage Wealth Management Inc. acquired a new position in Northern Oil and Gas during the second quarter worth $939,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.