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Raymond James reissued their maintains rating on shares of Northern Oil and Gas (NYSEAMERICAN:NOG – Get Rating) in a report released on Tuesday, Benzinga reports.
NOG has been the topic of several other research reports. Citigroup raised their target price on Northern Oil and Gas from $31.00 to $36.00 and gave the company a buy rating in a research report on Tuesday, April 26th. TheStreet downgraded Northern Oil and Gas from a c- rating to a d rating in a research report on Thursday, May 5th. Piper Sandler decreased their target price on Northern Oil and Gas from $51.00 to $49.00 in a research report on Friday, July 22nd. Bank of America reduced their price objective on Northern Oil and Gas from $38.00 to $32.00 in a research report on Tuesday, July 19th. Finally, Wells Fargo & Company lowered their price objective on Northern Oil and Gas from $36.00 to $35.00 and set an equal weight rating on the stock in a research note on Monday, July 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $42.56.
Northern Oil and Gas Price Performance
Shares of NOG opened at $28.07 on Tuesday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 3.73. Northern Oil and Gas has a 12 month low of $14.03 and a 12 month high of $39.10. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -27.52, a price-to-earnings-growth ratio of 0.51 and a beta of 2.25.
Northern Oil and Gas (NYSEAMERICAN:NOG – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The energy company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.20 by $0.38. Northern Oil and Gas had a negative return on equity of 351.74% and a net margin of 1.28%. The company had revenue of $456.46 million for the quarter, compared to analyst estimates of $321.67 million. During the same period last year, the company earned $0.62 earnings per share. On average, analysts forecast that Northern Oil and Gas will post 5.76 earnings per share for the current fiscal year.
Northern Oil and Gas Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Wednesday, June 29th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Tuesday, June 28th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.14. Northern Oil and Gas’s dividend payout ratio is -74.51%.
Insider Activity
In related news, major shareholder Robert B. Rowling sold 400,000 shares of the business’s stock in a transaction on 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 sale, 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 Securities & Exchange Commission, which is available through this link. In related news, major shareholder Robert B. Rowling sold 400,000 shares of the business’s stock in a transaction on 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 sale, 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 Securities & Exchange Commission, which is available through this link. Also, major shareholder Robert B. Rowling sold 117,860 shares of the business’s stock in a transaction on 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 sale, 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. Corporate insiders own 4.40% of the company’s stock.
Institutional Investors Weigh In On Northern Oil and Gas
Several large investors have recently bought and sold shares of NOG. Janney Montgomery Scott LLC increased its holdings in Northern Oil and Gas by 96.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 19,970 shares of the energy company’s stock worth $411,000 after purchasing an additional 9,780 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Northern Oil and Gas during the 4th quarter worth about $19,447,000. Arlington Capital Management Inc. purchased a new stake in Northern Oil and Gas during the 4th quarter worth about $374,000. Peregrine Capital Management LLC purchased a new stake in Northern Oil and Gas during the 4th quarter worth about $10,590,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Northern Oil and Gas by 430.4% in the 4th quarter. New York State Common Retirement Fund now owns 415,191 shares of the energy company’s stock valued at $8,545,000 after acquiring an additional 336,917 shares during the last quarter. Hedge funds and other institutional investors own 88.47% of the company’s stock.
Northern Oil and Gas Company Profile
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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.
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