Northern Oil and Gas, Inc. (NYSE:NOG) Given Consensus Recommendation of "Hold" by Analysts

Northern Oil and Gas, Inc. (NYSE:NOG) has received a consensus "Hold" rating from eleven brokerages. Analysts have set an average 1-year price target of $33.00. Recent reports show varied ratings: William Blair rated "outperform," Piper Sandler "neutral" with a $25 target, Morgan Stanley "underweight" with a $26 target, Citigroup "buy" with a $28 target, and Mizuho "neutral" with a $28 target. The stock opened at $22.02, with a market cap of $2.15 billion and a dividend yield of 8.2%. Institutional investors own 98.80% of the stock.

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) has been given a consensus rating of "Hold" by the eleven brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $33.00.

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Several research firms have recently issued reports on NOG. William Blair started coverage on shares of Northern Oil and Gas in a research note on Monday, August 25th. They issued an "outperform" rating for the company. Piper Sandler reaffirmed a "neutral" rating and issued a $25.00 price objective (down from $31.00) on shares of Northern Oil and Gas in a research report on Monday, August 4th. Morgan Stanley reissued an "underweight" rating and set a $26.00 target price (down previously from $27.00) on shares of Northern Oil and Gas in a research report on Tuesday, October 14th. Citigroup reduced their target price on Northern Oil and Gas from $32.00 to $28.00 and set a "buy" rating for the company in a report on Monday, October 20th. Finally, Mizuho dropped their price target on Northern Oil and Gas from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Monday, September 15th.

View Our Latest Analysis on NOG

Northern Oil and Gas Stock Performance

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NOG opened at $22.02 on Friday. Northern Oil and Gas has a 1-year low of $19.88 and a 1-year high of $44.31. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 3.63 and a beta of 1.48. The company's fifty day moving average price is $22.89 and its two-hundred day moving average price is $25.92. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.98.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Monday, March 6th. The company reported $1.06 EPS for the quarter. The company had revenue of $319.19 million during the quarter. Northern Oil and Gas had a net margin of 23.62% and a return on equity of 22.12%. On average, analysts expect that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Tuesday, December 30th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend is Tuesday, December 30th. Northern Oil and Gas's payout ratio is 101.69%.

Institutional Trading of Northern Oil and Gas

Hedge funds have recently added to or reduced their stakes in the stock. DLD Asset Management LP grew its position in shares of Northern Oil and Gas by 42.9% during the 2nd quarter. DLD Asset Management LP now owns 25,000,000 shares of the company's stock valued at $708,750,000 after acquiring an additional 7,500,000 shares during the period. Nuveen LLC purchased a new position in Northern Oil and Gas in the first quarter valued at approximately $36,288,000. Dimensional Fund Advisors LP grew its holdings in Northern Oil and Gas by 30.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,298,379 shares of the company's stock valued at $129,939,000 after purchasing an additional 1,001,493 shares during the period. Tributary Capital Management LLC increased its position in Northern Oil and Gas by 146.3% in the third quarter. Tributary Capital Management LLC now owns 1,312,256 shares of the company's stock worth $32,544,000 after buying an additional 779,492 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. bought a new stake in shares of Northern Oil and Gas in the first quarter valued at $14,137,000. Institutional investors 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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