Northern Oil and Gas (NYSEAMERICAN:NOG) Upgraded at TheStreet

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TheStreet upgraded shares of Northern Oil and Gas (NYSEAMERICAN:NOG – Get Rating) from a d rating to a b- rating in a research report report published on Wednesday, TheStreetRatingsTable reports.

A number of other equities analysts have also commented on the stock. Wells Fargo & Company cut their price objective on shares of Northern Oil and Gas from $36.00 to $35.00 and set an equal weight rating for the company in a research report on Monday, July 11th. Bank of America decreased their price target on shares of Northern Oil and Gas from $38.00 to $32.00 in a research note on Tuesday, July 19th. Citigroup lifted their target price on shares of Northern Oil and Gas from $31.00 to $36.00 and gave the stock a buy rating in a research note on Tuesday, April 26th. Piper Sandler cut their price target on shares of Northern Oil and Gas from $51.00 to $49.00 in a report on Friday, July 22nd. Finally, Raymond James lifted their price target on shares of Northern Oil and Gas from $48.00 to $55.00 in a report on Thursday, June 9th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Northern Oil and Gas currently has an average rating of Moderate Buy and a consensus price target of $42.56.

Northern Oil and Gas Trading Up 4.2 %

Shares of NOG stock opened at $26.76 on Wednesday. The stock has a market capitalization of $2.07 billion, a PE ratio of -26.24, a PEG ratio of 0.51 and a beta of 2.25. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.66 and a quick ratio of 0.66. Northern Oil and Gas has a one year low of $14.03 and a one year high of $39.10.

Northern Oil and Gas (NYSEAMERICAN:NOG – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The energy company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18. Northern Oil and Gas had a net margin of 1.28% and a negative return on equity of 351.74%. During the same quarter in the prior year, the firm earned $0.92 earnings per share. On average, sell-side analysts forecast that Northern Oil and Gas will post 5.76 EPS for the current year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Thursday, September 29th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Wednesday, September 28th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.19. Northern Oil and Gas’s payout ratio is currently -74.51%.

Insider Activity at Northern Oil and Gas

In other Northern Oil and Gas news, major shareholder Robert B. Rowling sold 400,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $33.26, for a total transaction of $13,304,000.00. Following the sale, the insider now owns 8,563,719 shares in the company, valued at approximately $284,829,293.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder Robert B. Rowling sold 400,000 shares of the stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $33.26, for a total value of $13,304,000.00. Following the transaction, the insider now owns 8,563,719 shares in the company, valued at approximately $284,829,293.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Robert B. Rowling sold 117,860 shares of the stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $33.01, for a total value of $3,890,558.60. Following the completion of the transaction, the insider now owns 8,263,719 shares in the company, valued at approximately $272,785,364.19. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds have recently bought and sold shares of NOG. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Northern Oil and Gas by 26.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,820 shares of the energy company’s stock worth $1,056,000 after purchasing an additional 8,744 shares during the last quarter. X Square Capital LLC increased its position in shares of Northern Oil and Gas by 3.5% during the second quarter. X Square Capital LLC now owns 34,288 shares of the energy company’s stock worth $866,000 after acquiring an additional 1,163 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Northern Oil and Gas by 12.5% during the second quarter. Loomis Sayles & Co. L P now owns 625,213 shares of the energy company’s stock worth $15,793,000 after acquiring an additional 69,233 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in Northern Oil and Gas by 28.2% in the second quarter. Cullen Frost Bankers Inc. now owns 22,750 shares of the energy company’s stock valued at $575,000 after buying an additional 5,000 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Northern Oil and Gas by 101.2% in the second quarter. Steward Partners Investment Advisory LLC now owns 505,669 shares of the energy company’s stock valued at $12,773,000 after buying an additional 254,373 shares during the last quarter. 88.47% of the stock is owned by hedge funds and other institutional investors.

About Northern Oil and Gas

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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. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.