Jefferies Financial Group began coverage on shares of Northern Oil and Gas (NYSE:NOG – Free Report) in a research report report published on Thursday, StockNewsAPI reports. The brokerage issued a buy rating and a $53.00 price target on the stock.
A number of other brokerages have also weighed in on NOG. StockNews.com lowered shares of Northern Oil and Gas from a hold rating to a sell rating in a report on Thursday, August 1st. Mizuho assumed coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They set an outperform rating and a $47.00 price target on the stock. Royal Bank of Canada restated an outperform rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Morgan Stanley decreased their target price on 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, Truist Financial cut 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 report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $46.80.
Get Our Latest Stock Report on Northern Oil and Gas
Northern Oil and Gas Price Performance
Northern Oil and Gas (NYSE:NOG – Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the business earned $1.49 EPS. Northern Oil and Gas’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio is currently 27.23%.
Insider Transactions at Northern Oil and Gas
In related news, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the transaction, the insider now directly owns 105,713 shares in the company, valued at $3,727,440.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the transaction, the president now owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the sale, 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. Insiders have sold 8,258 shares of company stock valued at $310,551 in the last 90 days. 2.80% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in Northern Oil and Gas by 91.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after acquiring an additional 528 shares in the last quarter. TFO Wealth Partners LLC grew its position in shares of Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after purchasing an additional 1,121 shares during the period. Quarry LP grew its position in shares of Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after purchasing an additional 874 shares during the period. Fifth Third Bancorp increased its stake in shares of Northern Oil and Gas by 88.2% during the second quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock worth $82,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Marks Group Wealth Management Inc acquired a new position in shares of Northern Oil and Gas during the 1st quarter worth about $215,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.
About Northern Oil and Gas
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.
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