Northern Oil and Gas, Inc. (NYSE:NOG) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the ten ratings firms that are currently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $44.78.

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NOG has been the subject of a number of research reports. Bank of America cut their price objective on shares of Northern Oil and Gas from $48.00 to $41.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Piper Sandler reduced their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 29th. Citigroup dropped their target price on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Morgan Stanley reduced their price target on Northern Oil and Gas from $43.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Finally, Truist Financial boosted their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, January 13th.

Read Our Latest Research Report on NOG

Insiders Place Their Bets

In other Northern Oil and Gas news, CEO Nicholas L. O'grady purchased 1,000 shares of the company's stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the purchase, the chief executive officer now directly owns 226,189 shares of the company's stock, valued at $6,215,673.72. The trade was a 0.44 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bahram Akradi acquired 40,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the purchase, the director now directly owns 1,662,016 shares of the company's stock, valued at approximately $46,586,308.48. This trade represents a 2.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.80% of the stock is currently owned by insiders.

Institutional Trading of Northern Oil and Gas

Several institutional investors and hedge funds have recently made changes to their positions in NOG. Headlands Technologies LLC bought a new stake in Northern Oil and Gas during the fourth quarter valued at about $29,000. Byrne Asset Management LLC increased its position in Northern Oil and Gas by 54.9% during the 1st quarter. Byrne Asset Management LLC now owns 1,363 shares of the company's stock valued at $41,000 after buying an additional 483 shares in the last quarter. Blue Trust Inc. raised its stake in 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 buying an additional 801 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Northern Oil and Gas by 127.7% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,489 shares of the company's stock worth $45,000 after acquiring an additional 835 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in 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 worth $51,000 after acquiring an additional 259 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Trading Up 2.2 %

NYSE NOG opened at $22.93 on Thursday. The stock's 50-day simple moving average is $29.26 and its two-hundred day simple moving average is $35.64. Northern Oil and Gas has a twelve month low of $19.88 and a twelve month high of $44.31. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 4.46 and a beta of 1.49.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $545.47 million for the quarter, compared to analysts' expectations of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Research analysts forecast that Northern Oil and Gas will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas announced that its board has approved a share buyback program on Tuesday, March 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be given a $0.45 dividend. This is a boost from Northern Oil and Gas's previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.85%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas's payout ratio is currently 35.02%.

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.

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