Northern Oil and Gas (NYSE:NOG) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Northern Oil and Gas (NYSE:NOG) from a sell rating to a hold rating in a report released on Thursday.

A number of other equities analysts have also recently commented on NOG. Truist Financial boosted their price target on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Stifel Nicolaus upped their target price on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. Raymond James lowered their price target on Northern Oil and Gas from $51.00 to $45.00 and set a strong-buy rating on the stock in a research report on Wednesday, January 24th. Citigroup cut their price objective on Northern Oil and Gas from $50.00 to $45.00 and set a buy rating for the company in a report on Wednesday, February 28th. Finally, Bank of America lowered Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 price objective on the stock. in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Northern Oil and Gas currently has an average rating of Moderate Buy and an average target price of $47.90.

Northern Oil and Gas Trading Up 0.7 %

Northern Oil and Gas stock opened at $40.25 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.32 and a current ratio of 0.96. Northern Oil and Gas has a fifty-two week low of $29.57 and a fifty-two week high of $43.75. The stock has a market cap of $4.07 billion, a P/E ratio of 6.52 and a beta of 1.84. The firm’s fifty day moving average price is $39.61 and its 200-day moving average price is $37.31.

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

Northern Oil and Gas Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.98%. Northern Oil and Gas’s payout ratio is currently 25.93%.

Insiders Place Their Bets

In related news, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction that occurred on Friday, March 15th. The stock was 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 of the company’s stock, valued at approximately $4,649,642. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northern Oil and Gas news, insider James B. Evans sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total transaction of $132,300.00. Following the sale, the insider now directly owns 73,753 shares of the company’s stock, valued at $3,097,626. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Adam A. Dirlam sold 2,088 shares of Northern Oil and Gas stock in a transaction on Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the transaction, the president now directly owns 122,359 shares of the company’s stock, valued at $4,649,642. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,944 shares of company stock worth $436,614. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds have recently bought and sold shares of the business. TFO Wealth Partners LLC lifted its stake in 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 period. Principal Securities Inc. purchased a new stake in shares of Northern Oil and Gas in the 4th quarter worth approximately $42,000. SRS Capital Advisors Inc. boosted its stake 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 purchasing an additional 927 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Northern Oil and Gas during the third quarter valued at approximately $67,000. Finally, Quadrant Capital Group LLC raised its stake in Northern Oil and Gas by 74.7% in the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after buying an additional 930 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.