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

Northern Oil and Gas, Inc. (NYSE:NOG) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $46.33.

Several research firms have weighed in on NOG. Capital One Financial downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research report on Monday, December 16th. Morgan Stanley cut their price target on Northern Oil and Gas from $43.00 to $38.00 and set an “equal weight” rating for the company in a report on Thursday. Citigroup decreased their price objective on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada cut their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $30.19 on Friday. The firm has a market capitalization of $2.99 billion, a P/E ratio of 5.87 and a beta of 1.84. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. Northern Oil and Gas has a one year low of $26.60 and a one year high of $44.31. The business has a fifty day moving average of $33.24 and a 200 day moving average of $36.83.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $545.47 million for the quarter, compared to the consensus estimate of $552.34 million. As a group, sell-side analysts anticipate that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.96%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio is presently 35.02%.

Northern Oil and Gas announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, Director Bahram Akradi acquired 40,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the acquisition, the director now directly owns 1,662,016 shares of the company’s stock, valued at approximately $46,586,308.48. The trade was a 2.47 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nicholas L. O’grady bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $27.48 per share, with a total value of $27,480.00. Following the completion of the acquisition, the chief executive officer now owns 226,189 shares of the company’s stock, valued at $6,215,673.72. This represents a 0.44 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Northern Oil and Gas by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 11,273,298 shares of the company’s stock worth $418,916,000 after buying an additional 166,501 shares during the last quarter. American Century Companies Inc. grew its position in Northern Oil and Gas by 3.9% in the fourth quarter. American Century Companies Inc. now owns 6,537,596 shares of the company’s stock worth $242,937,000 after acquiring an additional 243,531 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Northern Oil and Gas by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,296,886 shares of the company’s stock worth $122,507,000 after acquiring an additional 68,631 shares during the last quarter. Geode Capital Management LLC raised its position in Northern Oil and Gas by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock valued at $80,884,000 after purchasing an additional 100,761 shares during the period. Finally, Copeland Capital Management LLC lifted its stake in shares of Northern Oil and Gas by 0.9% in the 4th quarter. Copeland Capital Management LLC now owns 2,114,909 shares of the company’s stock valued at $78,590,000 after purchasing an additional 18,195 shares during the last quarter. Hedge funds and other 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.