Brokerages Set Northern Oil and Gas, Inc. (NYSE:NOG) PT at $31.29

Northern Oil and Gas, Inc. (NYSE:NOG) has received an average recommendation of “Hold” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $32.00.

Several analysts have recently weighed in on NOG shares. Mizuho set a $29.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, January 21st. Citigroup dropped their price target on shares of Northern Oil and Gas from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of Northern Oil and Gas in a report on Tuesday, April 21st. Bank of America boosted their price objective on shares of Northern Oil and Gas from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Royal Bank Of Canada upped their price objective on shares of Northern Oil and Gas from $30.00 to $35.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 8th.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its stake in Northern Oil and Gas by 14.9% in the fourth quarter. Quadrant Capital Group LLC now owns 3,092 shares of the company’s stock worth $66,000 after acquiring an additional 400 shares during the period. Range Financial Group LLC boosted its stake in Northern Oil and Gas by 5.3% during the third quarter. Range Financial Group LLC now owns 9,736 shares of the company’s stock worth $241,000 after acquiring an additional 486 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in Northern Oil and Gas by 18.8% during the fourth quarter. SBI Securities Co. Ltd. now owns 3,207 shares of the company’s stock worth $69,000 after acquiring an additional 507 shares in the last quarter. Virtus Investment Advisers LLC boosted its stake in Northern Oil and Gas by 8.4% during the fourth quarter. Virtus Investment Advisers LLC now owns 7,394 shares of the company’s stock worth $159,000 after acquiring an additional 572 shares in the last quarter. Finally, First National Advisers LLC boosted its stake in Northern Oil and Gas by 4.8% during the third quarter. First National Advisers LLC now owns 12,665 shares of the company’s stock worth $314,000 after acquiring an additional 580 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $26.53 on Monday. The business’s 50-day moving average price is $27.70 and its two-hundred day moving average price is $24.52. Northern Oil and Gas has a twelve month low of $20.18 and a twelve month high of $32.62. The stock has a market cap of $2.81 billion, a P/E ratio of -4.16 and a beta of 0.75. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.43.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. The firm had revenue of $5.03 million for the quarter, compared to analysts’ expectations of $511.38 million. Northern Oil and Gas had a positive return on equity of 18.43% and a negative net margin of 33.17%.The company’s revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 EPS. As a group, equities analysts predict that Northern Oil and Gas will post 3.23 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, March 30th were issued a $0.45 dividend. The ex-dividend date was Monday, March 30th. This represents a $1.80 annualized dividend and a yield of 6.8%. Northern Oil and Gas’s dividend payout ratio (DPR) is -28.26%.

About Northern Oil and Gas

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.