Analysts Set Northern Oil and Gas, Inc. (NYSE:NOG) Target Price at $34.38

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given an average rating of “Hold” by the eleven ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $34.3750.

A number of brokerages recently commented on NOG. Weiss Ratings restated a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Wednesday, October 8th. William Blair began coverage on Northern Oil and Gas in a research note on Monday, August 25th. They set an “outperform” rating for the company. Royal Bank Of Canada decreased their price objective on Northern Oil and Gas from $34.00 to $33.00 and set a “sector perform” rating for the company in a report on Monday, July 14th. Citigroup increased their price objective on Northern Oil and Gas from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Finally, Mizuho decreased their price objective on Northern Oil and Gas from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, September 15th.

Northern Oil and Gas Price Performance

Shares of NOG opened at $23.16 on Thursday. The company has a market cap of $2.26 billion, a P/E ratio of 3.82 and a beta of 1.61. The stock has a fifty day moving average price of $25.12 and a 200 day moving average price of $26.56. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.21 and a quick ratio of 1.21. Northern Oil and Gas has a 12 month low of $19.88 and a 12 month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Monday, March 6th. The company reported $1.06 EPS for the quarter. The firm had revenue of $319.19 million during the quarter. Northern Oil and Gas had a return on equity of 22.12% and a net margin of 23.62%. On average, research analysts forecast that Northern Oil and Gas will post 5.18 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, September 29th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Monday, September 29th. Northern Oil and Gas’s dividend payout ratio is 29.70%.

Hedge Funds Weigh In On Northern Oil and Gas

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. DLD Asset Management LP grew its holdings in Northern Oil and Gas by 42.9% in the 2nd quarter. DLD Asset Management LP now owns 25,000,000 shares of the company’s stock worth $708,750,000 after buying an additional 7,500,000 shares in the last quarter. American Century Companies Inc. boosted its stake in Northern Oil and Gas by 6.4% during the 1st quarter. American Century Companies Inc. now owns 6,953,377 shares of the company’s stock valued at $210,201,000 after purchasing an additional 415,781 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Northern Oil and Gas by 30.4% during the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Northern Oil and Gas by 25.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,951,505 shares of the company’s stock valued at $56,867,000 after purchasing an additional 397,128 shares in the last quarter. Finally, Channing Capital Management LLC boosted its stake in Northern Oil and Gas by 8.7% during the 1st quarter. Channing Capital Management LLC now owns 1,920,258 shares of the company’s stock valued at $58,049,000 after purchasing an additional 153,635 shares in the last quarter. 98.80% of the stock is owned by institutional investors.

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.