Northern Oil and Gas, Inc. (NYSE:NOG) Stock Has Average Target Price of $31.22 According to Analysts

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) have been given an average recommendation of “Hold” by the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $31.22.

A number of research analysts have recently weighed in on NOG shares. Wall Street Zen upgraded Northern Oil and Gas from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Raymond James Financial reiterated an “outperform” rating and issued a $31.00 target price (up from $28.00) on shares of Northern Oil and Gas in a research report on Thursday, September 10th. Mizuho boosted their target price on Northern Oil and Gas from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 14th. Scotiabank initiated coverage on Northern Oil and Gas in a research note on Wednesday, October 14th. They set a “sector perform” rating and a $27.00 price target for the company. Finally, Morgan Stanley restated an “underweight” rating and set a $26.00 price target (up from $25.00) on shares of Northern Oil and Gas in a report on Thursday, October 15th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Isthmus Partners LLC lifted its position in Northern Oil and Gas by 13.8% during the third quarter. Isthmus Partners LLC now owns 111,853 shares of the company’s stock valued at $2,559,000 after purchasing an additional 13,537 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of Northern Oil and Gas in the 3rd quarter worth $28,000. Nisa Investment Advisors LLC grew its stake in shares of Northern Oil and Gas by 148.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 41,584 shares of the company’s stock worth $970,000 after buying an additional 24,826 shares in the last quarter. Abel Hall LLC grew its stake in shares of Northern Oil and Gas by 30.9% in the 3rd quarter. Abel Hall LLC now owns 23,170 shares of the company’s stock worth $530,000 after buying an additional 5,467 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC increased its holdings in shares of Northern Oil and Gas by 3,057.0% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 427,012 shares of the company’s stock worth $9,770,000 after buying an additional 413,486 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

Northern Oil and Gas Stock Performance

NOG opened at $27.22 on Tuesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 7.36 and a beta of 0.90. The company has a fifty day moving average of $25.46 and a 200 day moving average of $23.49. Northern Oil and Gas has a fifty-two week low of $17.18 and a fifty-two week high of $31.17.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.05). Northern Oil and Gas had a positive return on equity of 18.69% and a negative net margin of 25.35%. The company had revenue of $745.24 million during the quarter, compared to analysts’ expectations of $594.09 million. During the same quarter in the previous year, the firm earned $1.37 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Northern Oil and Gas will post 3.82 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend is Tuesday, September 29th. Northern Oil and Gas’s dividend payout ratio is -34.75%.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is an independent energy company engaged in the acquisition, development and production of crude oil, natural gas and natural gas liquids in the United States. The company primarily holds non-operated working interests, allowing it to participate in wells drilled and managed by other exploration and production companies while maintaining exposure to a broad portfolio of oil and gas assets.

Northern Oil and Gas has historically focused on properties in the Williston Basin of North Dakota and Montana and has expanded its operations into other major U.S.