Northern Oil and Gas (NOG) – Investment Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Northern Oil and Gas (NYSE: NOG) recently:

• 10/3/2024 – Northern Oil and Gas is now covered by analysts at Jefferies Financial Group Inc.. They set a “buy” rating and a $53.00 price target on the stock.
• 9/30/2024 – Northern Oil and Gas had its price target lowered by analysts at Truist Financial Co. from $55.00 to $44.00. They now have a “buy” rating on the stock.
• 9/19/2024 – Northern Oil and Gas is now covered by analysts at Mizuho. They set an “outperform” rating and a $47.00 price target on the stock.
• 9/16/2024 – Northern Oil and Gas had its price target lowered by analysts at Morgan Stanley from $42.00 to $39.00. They now have an “equal weight” rating on the stock.
• 8/15/2024 – Northern Oil and Gas had its price target lowered by analysts at Piper Sandler from $45.00 to $40.00. They now have a “neutral” rating on the stock.

Northern Oil and Gas Price Performance

NYSE NOG traded up $0.52 during mid-day trading on Friday, hitting $39.60. The stock had a trading volume of 578,148 shares, compared to its average volume of 1,350,506. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $43.80. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s 50 day moving average is $37.66 and its 200 day moving average is $39.08. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 6.42 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. The company had revenue of $560.80 million for the quarter, compared to the consensus estimate of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.49 earnings per share. Equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, September 27th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 4.24%. Northern Oil and Gas’s dividend payout ratio is currently 27.23%.

Insiders Place Their Bets

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the transaction, the chief executive officer now owns 224,332 shares in the company, valued at approximately $8,526,859.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Northern Oil and Gas news, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction on Tuesday, October 1st. The shares were 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 in the company, valued at $3,727,440.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares in the company, valued at $8,526,859.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is owned by insiders.

Institutional Trading of Northern Oil and Gas

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Northern Oil and Gas by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after buying an additional 43,940 shares during the period. American Century Companies Inc. lifted its position in Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after buying an additional 552,645 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Northern Oil and Gas by 45.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after buying an additional 789,985 shares during the period. Westfield Capital Management Co. LP raised its holdings in shares of Northern Oil and Gas by 13.8% during the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after acquiring an additional 212,030 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Northern Oil and Gas by 5.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock valued at $56,850,000 after purchasing an additional 77,537 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

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.