Northern Oil and Gas (NYSE:NOG) Now Covered by Mizuho

by · The Markets Daily

Mizuho assumed coverage on shares of Northern Oil and Gas (NYSE:NOG – Free Report) in a report published on Thursday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $47.00 price objective on the stock.

A number of other equities research analysts have also recently weighed in on NOG. Piper Sandler lowered their price target on Northern Oil and Gas from $45.00 to $40.00 and set a neutral rating on the stock in a report on Thursday, August 15th. Bank of America increased their target price on Northern Oil and Gas from $48.00 to $49.00 and gave the company a buy rating in a report on Wednesday, July 10th. Morgan Stanley lowered their target price on Northern Oil and Gas from $42.00 to $39.00 and set an equal weight rating on the stock in a report on Monday, September 16th. StockNews.com cut Northern Oil and Gas from a hold rating to a sell rating in a report on Thursday, August 1st. Finally, Truist Financial increased their target price on Northern Oil and Gas from $54.00 to $55.00 and gave the company a buy rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $47.70.

Get Our Latest Analysis on NOG

Northern Oil and Gas Stock Performance

NOG opened at $37.11 on Thursday. The stock has a market cap of $3.75 billion, a P/E ratio of 6.01 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $38.37 and its 200 day simple moving average is $39.12. Northern Oil and Gas has a 1-year low of $31.13 and a 1-year high of $43.80.

Northern Oil and Gas (NYSE:NOG – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26. The business had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The company’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.49 EPS. As a group, equities analysts anticipate that Northern Oil and Gas will post 5.41 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.53%. 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%.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.88, for a total transaction of $52,728.96. Following the transaction, the president now owns 107,628 shares of the company’s stock, valued at approximately $4,076,948.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Nicholas L. O’grady sold 3,750 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $38.01, for a total value of $142,537.50. Following the transaction, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Adam A. Dirlam sold 1,392 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $37.88, for a total value of $52,728.96. Following the completion of the transaction, the president now directly owns 107,628 shares in the company, valued at $4,076,948.64. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in Northern Oil and Gas by 1.4% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock valued at $849,000 after purchasing an additional 320 shares in the last quarter. 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 valued at $41,000 after purchasing an additional 528 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Northern Oil and Gas by 2.2% during the second quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock valued at $945,000 after acquiring an additional 555 shares in the last quarter. Insight Wealth Strategies LLC grew its stake in shares of Northern Oil and Gas by 2.7% during the second quarter. Insight Wealth Strategies LLC now owns 27,197 shares of the company’s stock valued at $1,011,000 after acquiring an additional 717 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Northern Oil and Gas by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 46,000 shares of the company’s stock valued at $1,710,000 after acquiring an additional 800 shares in the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Company Profile

(Get Free Report)

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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