Northern Oil and Gas (NYSE:NOG) Shares Down 8.9%

Northern Oil and Gas, Inc. (NYSE:NOGGet Rating) traded down 8.9% during trading on Friday . The company traded as low as $25.84 and last traded at $25.91. 5,825 shares traded hands during trading, a decline of 99% from the average session volume of 782,010 shares. The stock had previously closed at $28.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their price target on Northern Oil and Gas from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday, July 11th. Bank of America increased their price target on Northern Oil and Gas from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday. Truist Financial increased their price target on Northern Oil and Gas from $52.00 to $58.00 in a research report on Monday, June 13th. TheStreet upgraded Northern Oil and Gas from a “d” rating to a “b-” rating in a research report on Wednesday, August 3rd. Finally, Piper Sandler decreased their price objective on Northern Oil and Gas from $51.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday, July 22nd. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.78.

Northern Oil and Gas Stock Performance

The stock has a 50 day moving average price of $29.75 and a two-hundred day moving average price of $28.42. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 7.22. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.43 and a beta of 2.09.

Northern Oil and Gas (NYSE:NOGGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.15. The company had revenue of $549.64 million for the quarter, compared to the consensus estimate of $410.05 million. Northern Oil and Gas had a return on equity of 1,046.87% and a net margin of 1.28%. Analysts predict that Northern Oil and Gas, Inc. will post 7.13 EPS for the current year.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Thursday, September 29th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.86%. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.19. Northern Oil and Gas’s dividend payout ratio is 36.54%.

Institutional Trading of Northern Oil and Gas

Hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new stake in Northern Oil and Gas during the 2nd quarter worth $25,000. TCI Wealth Advisors Inc. acquired a new stake in Northern Oil and Gas during the 1st quarter worth $29,000. Captrust Financial Advisors raised its stake 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 worth $29,000 after buying an additional 1,066 shares during the period. Heritage Wealth Management LLC acquired a new stake in Northern Oil and Gas during the 2nd quarter worth $97,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Northern Oil and Gas in the 1st quarter valued at about $128,000. Institutional investors and hedge funds own 78.72% of the company’s stock.

About Northern Oil and Gas

(Get Rating)

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.

Featured Articles

Receive News & Ratings for Northern Oil and Gas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Oil and Gas and related companies with MarketBeat.com's FREE daily email newsletter.