Northern Oil and Gas, Inc. (NYSE:NOG – Get Free Report) has been given a consensus recommendation of “Hold” by the ten analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $31.8750.
NOG has been the subject of a number of research reports. Bank of America increased their target price on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Citigroup decreased their price target on shares of Northern Oil and Gas from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Royal Bank Of Canada upped their price objective on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 8th. Weiss Ratings downgraded shares of Northern Oil and Gas from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Finally, Wall Street Zen lowered shares of Northern Oil and Gas from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th.
Read Our Latest Research Report on NOG
Insider Activity at Northern Oil and Gas
Hedge Funds Weigh In On Northern Oil and Gas
Institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in Northern Oil and Gas by 181.0% in the first quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after purchasing an additional 713 shares during the last quarter. Ascentis Independent Advisors bought a new stake in shares of Northern Oil and Gas during the first quarter worth about $33,000. EverSource Wealth Advisors LLC increased its stake in shares of Northern Oil and Gas by 429.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,514 shares of the company’s stock valued at $43,000 after buying an additional 1,228 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Northern Oil and Gas by 85.7% in the second quarter. Smartleaf Asset Management LLC now owns 1,521 shares of the company’s stock valued at $44,000 after buying an additional 702 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in Northern Oil and Gas by 572.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock valued at $36,000 after buying an additional 1,432 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.
Northern Oil and Gas Price Performance
Shares of Northern Oil and Gas stock traded down $0.24 during trading on Friday, reaching $18.55. 2,137,980 shares of the company’s stock were exchanged, compared to its average volume of 3,780,605. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.53. Northern Oil and Gas has a 1-year low of $17.18 and a 1-year high of $31.17. The company has a market cap of $2.02 billion, a P/E ratio of -2.91 and a beta of 0.69. The firm’s 50-day moving average price is $21.36 and its 200 day moving average price is $24.17.
Northern Oil and Gas (NYSE:NOG – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The business had revenue of $5.03 million for the quarter, compared to analyst estimates of $511.38 million. During the same period last year, the firm posted $1.33 earnings per share. Northern Oil and Gas’s revenue was down 6.2% compared to the same quarter last year. As a group, research analysts anticipate that Northern Oil and Gas will post 3.25 earnings per share for the current year.
Northern Oil and Gas Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, June 29th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date is Monday, June 29th. Northern Oil and Gas’s dividend payout ratio is presently -28.26%.
Northern Oil and Gas Company Profile
Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.
Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.
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