Northern Oil and Gas (NYSE:NOG) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas (NYSE:NOG) in a research note published on Thursday, StockNewsAPI reports. The firm issued a buy rating and a $53.00 price target on the stock.

Several other equities research analysts have also recently commented on NOG. Piper Sandler cut their price target on Northern Oil and Gas from $45.00 to $40.00 and set a neutral rating for the company in a report on Thursday, August 15th. Mizuho began coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They issued an outperform rating and a $47.00 target price for the company. Truist Financial lowered their price target on shares of Northern Oil and Gas from $55.00 to $44.00 and set a buy rating on the stock in a research report on Monday, September 30th. Morgan Stanley dropped their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an equal weight rating for the company in a report on Monday, September 16th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $46.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $46.80.

Northern Oil and Gas Price Performance

Shares of NYSE NOG opened at $39.66 on Thursday. The firm has a 50-day simple moving average of $37.65 and a 200-day simple moving average of $39.09. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 6.43 and a beta of 1.81. Northern Oil and Gas has a 52 week low of $31.13 and a 52 week high of $43.80.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $542.28 million. During the same quarter in the prior year, the company earned $1.49 EPS. Northern Oil and Gas’s revenue was up 17.7% compared to the same quarter last year. On average, equities analysts predict that Northern Oil and Gas will post 5.29 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, September 27th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.24%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 27.23%.

Insider Activity

In related news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the transaction, the chief executive officer now owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $38.01, for a total value of $142,537.50. Following the sale, the chief executive officer now owns 224,332 shares in the company, valued at approximately $8,526,859.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Erik J. Romslo sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the transaction, the insider now owns 105,713 shares of the company’s stock, valued at $3,727,440.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,258 shares of company stock valued at $310,551. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Northern Oil and Gas

Several large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its position in shares of Northern Oil and Gas by 11.5% during the fourth quarter. Franklin Resources Inc. now owns 25,898 shares of the company’s stock worth $960,000 after acquiring an additional 2,680 shares during the period. US Bancorp DE increased its holdings in Northern Oil and Gas by 37.2% during the 4th quarter. US Bancorp DE now owns 18,741 shares of the company’s stock worth $695,000 after purchasing an additional 5,080 shares during the period. Allianz Asset Management GmbH raised its position in Northern Oil and Gas by 5.3% in the 4th quarter. Allianz Asset Management GmbH now owns 104,787 shares of the company’s stock valued at $3,884,000 after purchasing an additional 5,320 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in shares of Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after buying an additional 1,121 shares during the period. Finally, Rafferty Asset Management LLC grew its position in shares of Northern Oil and Gas by 20.9% during the fourth quarter. Rafferty Asset Management LLC now owns 191,544 shares of the company’s stock worth $7,101,000 after buying an additional 33,079 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

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.