Northern Oil and Gas (NYSE:NOG – Free Report) had its price target raised by Morgan Stanley from $38.00 to $41.00 in a research note released Monday, Benzinga reports. Morgan Stanley currently has an equal weighting on the stock.
Other research analysts have also recently published research reports on the stock. Citigroup lowered their price target on shares of Northern Oil and Gas from $50.00 to $45.00 and set a buy rating for the company in a report on Wednesday, February 28th. Stifel Nicolaus lowered their price target on shares of Northern Oil and Gas from $54.00 to $52.00 and set a buy rating for the company in a research note on Tuesday, January 23rd. Raymond James lowered their price objective on shares of Northern Oil and Gas from $51.00 to $45.00 and set a strong buy rating on the stock in a research note on Wednesday, January 24th. Jefferies Financial Group increased their target price on Northern Oil and Gas from $45.00 to $51.00 and gave the company a buy rating in a research note on Thursday, March 21st. Finally, Bank of America lowered Northern Oil and Gas from a buy rating to an underperform rating and set a $39.00 price target for the company. in a report on Friday, January 5. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $46.60.
Get our latest research report on Northern Oil and Gas
Northern oil and gas stocks down 0.7%
NYSE NOG opened at $42.35 on Monday. Northern Oil and Gas has a 52-week low of $29.57 and a 52-week high of $43.64. The company has a quick ratio of 1.32, a current ratio of 1.32, and a debt-to-equity ratio of 0.90. The company has a market capitalization of $4.28 billion, a P/E ratio of 4.22, and a beta of 1.86. The stock’s 50-day moving average price is $37.19 and its 200-day moving average price is $37.07.
Northern Oil and Gas (NYSE:NOG – Get Free Report) last released its earnings results on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by $0.03. The company reported revenue of $543.40 million for the quarter, compared to the consensus estimate of $555.31 million. Northern Oil and Gas recorded a return on equity of 40.86% and a net margin of 42.61%. Northern Oil and Gas’s revenues increased by 21.9% on an annual basis. During the same quarter of the previous year, the company recorded an EPS of $1.43. On average, equity research analysts predict that Northern Oil and Gas will post 5.41 earnings per share for the current year.
Northern Oil and Gas announces dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30. Shareholders of record on Thursday, March 28 will receive a dividend of $0.40. The ex-dividend date is Wednesday, March 27. This represents an annualized dividend of $1.60 and a dividend yield of 3.78%. Northern Oil and Gas’s dividend payout ratio is currently 15.94%.
Insider trading at Northern Oil and Gas
In related news, Chairman Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the transaction, the chairman now owns 122,359 shares of the company’s stock, valued at $4,649,642. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible through this link. Also, insider James B. Evans sold 945 shares of stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $35,910.00. Following the completion of the sale, the insider now directly owns 83,872 shares of the company’s stock, valued at $3,187,136. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Additionally, Chairman Adam A. Dirlam sold 2,088 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the sale, the president now owns 122,359 shares of the company’s stock, valued at $4,649,642. Disclosure of this sale can be found here. During the last quarter, insiders sold 10,944 shares of the company’s stock valued at $436,614. Company insiders own 3.60% of the company’s shares.
Institutional investors weigh on northern oil and gas
Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new position in Northern Oil and Gas during the second quarter worth $31,000. TFO Wealth Partners LLC boosted its position in shares of Northern Oil and Gas by 112,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after purchasing an additional 1,121 shares during the last quarter. Principal Securities Inc. acquired a new position in Northern Oil and Gas during the 4th quarter worth $42,000. Captrust Financial Advisors increased its position in Northern Oil and Gas by 1,349.4% during the 2nd quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock valued at $29,000 after purchasing an additional 1,066 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in Northern Oil and Gas by 305.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock valued at $46,000 after purchasing an additional 927 shares during the last quarter. Hedge funds and other institutional investors own 98.80% of the company’s shares.
About Northern Oil and Gas
(Get Free Report)
Northern Oil and Gas, Inc, an independent energy company, is engaged 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, Appalachian Basin and Permian Basin in the United States.
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