Northern Oil and Gas (NYSE:NOG) Price Target Cut to $45.00 by Analysts at Citigroup

Northern Oil and Gas (NYSE:NOG) had its target price reduced by Citigroup from $55.00 to $45.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

NOG has been the topic of a number of other research reports. Royal Bank of Canada cut their price objective on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 13th. Truist Financial boosted their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Piper Sandler cut their price objective on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research report on Monday, December 16th. Finally, Morgan Stanley set a $43.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Northern Oil and Gas currently has a consensus rating of “Hold” and a consensus price target of $46.89.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $32.23 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. Northern Oil and Gas has a twelve month low of $32.14 and a twelve month high of $44.31. The firm’s 50 day moving average price is $37.35 and its two-hundred day moving average price is $38.26. The firm has a market cap of $3.19 billion, a P/E ratio of 6.27 and a beta of 1.82.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. On average, analysts forecast that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.59%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s payout ratio is presently 35.02%.

Insider Buying and Selling

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 value of $32,604.00. Following the transaction, the president now directly owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently modified their holdings of NOG. Legacy Investment Solutions LLC acquired a new position in shares of Northern Oil and Gas in the third quarter valued at $25,000. Headlands Technologies LLC acquired a new position in shares of Northern Oil and Gas in the fourth quarter valued at $29,000. Signaturefd LLC increased its holdings in shares of Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after purchasing an additional 427 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Northern Oil and Gas by 177.2% in the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock valued at $44,000 after purchasing an additional 801 shares during the last quarter. Finally, Avior Wealth Management LLC increased its holdings in shares of Northern Oil and Gas by 23.3% in the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock valued at $51,000 after purchasing an additional 259 shares during the last quarter. 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.