Mizuho Begins Coverage on Northern Oil and Gas (NYSE:NOG)

Mizuho began coverage on shares of Northern Oil and Gas (NYSE:NOG) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $47.00 target price on the stock.

Other analysts also recently issued reports about the company. StockNews.com downgraded Northern Oil and Gas from a hold rating to a sell rating in a report on Thursday, August 1st. Truist Financial lifted their price target on Northern Oil and Gas from $54.00 to $55.00 and gave the stock a buy rating in a report on Thursday, August 1st. Morgan Stanley decreased their price target 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. Royal Bank of Canada reaffirmed an outperform rating and set a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. Finally, Bank of America lifted their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a buy rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $47.70.

Northern Oil and Gas Trading Down 0.4 %

NOG opened at $37.11 on Thursday. Northern Oil and Gas has a 12 month low of $31.13 and a 12 month high of $43.80. The stock has a market capitalization of $3.75 billion, a price-to-earnings 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 business has a fifty day moving average price of $38.37 and a 200 day moving average price of $39.12.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The firm had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $542.28 million. During the same period in the previous year, the firm posted $1.49 EPS. Northern Oil and Gas’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts expect that Northern Oil and Gas will post 5.41 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.42 dividend. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Friday, September 27th. Northern Oil and Gas’s payout ratio is presently 27.23%.

Insider Buying and Selling at Northern Oil and Gas

In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the sale, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at approximately $8,526,859.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Northern Oil and Gas news, President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the president now directly owns 107,628 shares of the company’s stock, valued at approximately $4,076,948.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the sale, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The disclosure for this sale can be found here. 2.80% of the stock is owned by company insiders.

Institutional Trading of Northern Oil and Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP increased its position in Northern Oil and Gas by 9.3% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock worth $57,003,000 after purchasing an additional 131,448 shares during the period. Vanguard Group Inc. increased its position in Northern Oil and Gas by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after purchasing an additional 43,940 shares during the period. UniSuper Management Pty Ltd acquired a new position in Northern Oil and Gas during the 1st quarter worth approximately $1,046,000. Motley Fool Asset Management LLC increased its position in Northern Oil and Gas by 29.0% during the 1st quarter. Motley Fool Asset Management LLC now owns 72,533 shares of the company’s stock worth $2,878,000 after purchasing an additional 16,302 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its position in Northern Oil and Gas by 1.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock worth $29,747,000 after purchasing an additional 12,814 shares during the period. 98.80% of the stock is owned by hedge funds and other institutional investors.

Northern Oil and Gas Company Profile

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.