Northern Oil and Gas, Inc. (NYSE:NOG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Northern Oil and Gas, Inc. (NYSE:NOG) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $46.80.

Several analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. Jefferies Financial Group began coverage on Northern Oil and Gas in a research report on Thursday. They set a “buy” rating and a $53.00 target price on the stock. Mizuho assumed coverage on Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price target for the company. Bank of America lifted their price objective on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, StockNews.com lowered Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $39.08 on Friday. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 6.33 and a beta of 1.81. The business has a 50 day moving average price of $37.66 and a 200 day moving average price of $39.08. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91. Northern Oil and Gas has a twelve month low of $31.13 and a twelve month high of $43.80.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26. The company had revenue of $560.80 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.49 earnings per share. Research analysts predict that Northern Oil and Gas will post 5.29 earnings per share for the current 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 issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, September 27th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.30%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 27.23%.

Insider Transactions at Northern Oil and Gas

In related news, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the transaction, the insider now directly owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Erik J. Romslo sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the sale, the insider now owns 105,713 shares of the company’s stock, valued at $3,727,440.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $8,526,859.32. 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

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position 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 in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Northern Oil and Gas during the first quarter valued at approximately $1,046,000. Motley Fool Asset Management LLC increased its holdings in shares of Northern Oil and Gas by 29.0% in the first quarter. Motley Fool Asset Management LLC now owns 72,533 shares of the company’s stock valued at $2,878,000 after purchasing an additional 16,302 shares in the last quarter. Silvercrest Asset Management Group LLC raised its position in Northern Oil and Gas by 1.7% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock worth $29,747,000 after purchasing an additional 12,814 shares during the last quarter. Finally, Capstone Investment Advisors LLC lifted its holdings in Northern Oil and Gas by 8,679.3% during the 1st quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after buying an additional 507,129 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Northern Oil and Gas Company Profile

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.