Brokerages Set Northern Oil and Gas, Inc. (NYSE:NOG) Price Target at $47.40

Northern Oil and Gas, Inc. (NYSE:NOG) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $47.90.

A number of research firms have weighed in on NOG. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. Citigroup lowered their price target on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday. Morgan Stanley boosted their price objective on Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Stifel Nicolaus increased their price objective on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Jefferies Financial Group lifted their target price on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st.

Northern Oil and Gas Price Performance

NOG stock opened at $40.25 on Thursday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 1.32. The company’s 50-day moving average is $39.61 and its 200-day moving average is $37.34. The stock has a market capitalization of $4.07 billion, a PE ratio of 6.52 and a beta of 1.84. Northern Oil and Gas has a 1 year low of $29.57 and a 1 year high of $43.75.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. The firm had revenue of $396.35 million during the quarter, compared to analysts’ expectations of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The company’s revenue for the quarter was down 31.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.76 earnings per share. Equities research analysts expect that Northern Oil and Gas will post 5.46 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be given a $0.40 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.60 annualized dividend and a dividend yield of 3.98%. Northern Oil and Gas’s dividend payout ratio is 25.93%.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, insider James B. Evans sold 945 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares in the company, valued at $3,187,136. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the sale, the president now owns 122,359 shares in the company, valued at approximately $4,649,642. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James B. Evans sold 945 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares in the company, valued at $3,187,136. The disclosure for this sale can be found here. Insiders have sold 10,944 shares of company stock worth $436,614 over the last 90 days. 2.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Principal Securities Inc. purchased a new position in Northern Oil and Gas during the fourth quarter valued at $42,000. TFO Wealth Partners LLC grew its stake in shares of Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after acquiring an additional 1,121 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Northern Oil and Gas by 305.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock valued at $46,000 after acquiring an additional 927 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Northern Oil and Gas in the 3rd quarter worth about $67,000. Finally, Quadrant Capital Group LLC boosted its stake in Northern Oil and Gas by 74.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after purchasing an additional 930 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.