Northern Oil and Gas Inc. (NYSE:NOG) shares traded -0.52% lower at $34.14 on Wall Street last session.
In accordance with the data, 12 analysts cover Northern Oil and Gas Inc. (NYSE:NOG). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $60.00 and a low of $39.00, we find $45.00. Given the previous closing price of $34.32, this indicates a potential upside of 31.12 percent. NOG stock price is now 6.36% away from the 50-day moving average and 6.13% away from the 200-day moving average. The market capitalization of the company currently stands at $3.12B.
It has been rated a hold by 0 analysts and a buy by 11. Brokers who have rated the stock have averaged $45.92 as their price target over the next twelve months.
With the price target maintained at $38, BofA Securities recently Upgraded its rating from Neutral to Buy for Northern Oil and Gas Inc. (NYSE: NOG).
In other news, Rowling Robert B., Former 10% Owners sold 196,830 shares of the company’s stock on Nov 15. The stock was sold for $7,514,969 at an average price of $38.18. Upon completion of the transaction, the Former 10% Owners now directly owns 7,796,757 shares in the company, valued at $266.18 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 14, Director Akradi Bahram sold 55,000 shares of the business’s stock. A total of $2,106,819 was realized by selling the stock at an average price of $38.31. This leaves the insider owning 1,696,353 shares of the company worth $57.91 million. Insiders disposed of 644,427 shares of company stock worth roughly $22.0 million over the past 1 year. A total of 12.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NOG stock. A new stake in Northern Oil and Gas Inc. shares was purchased by ALYESKA INVESTMENT GROUP, L.P. during the first quarter worth $15,570,000. NINEPOINT PARTNERS LP invested $6,870,000 in shares of NOG during the first quarter. In the first quarter, PUBLIC SECTOR PENSION INVESTMENT BOARD acquired a new stake in Northern Oil and Gas Inc. valued at approximately $4,481,000. COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS acquired a new stake in NOG for approximately $2,698,000. THRIVENT FINANCIAL FOR LUTHERANS purchased a new stake in NOG valued at around $2,525,000 in the second quarter.
Northern Oil and Gas Inc. (NYSE: NOG) opened at $34.41 on Monday. During the past 12 months, Northern Oil and Gas Inc. has had a low of $21.45 and a high of $39.01. As of last week, the company has a debt-to-equity ratio of 1.68, a current ratio of 1.10, and a quick ratio of 1.10. According to the stock market information, the enterprise value for the company is $4.92B, which is based on a 2.27 price-to-earnings ratio, a 0.19 price-to-earnings-growth ratio, and a beta of 2.00. The fifty day moving average price for NOG is $32.10 and a two-hundred day moving average price translates $32.17 for the stock.
The latest earnings results from Northern Oil and Gas Inc. (NYSE: NOG) was released for Mar, 2023. According to the Oil & Gas E&P Company, earnings per share came in at $1.76, beating analysts’ expectations of $1.69 by 0.07. This compares to -$2.69 EPS in the same period last year. The net profit margin was 59.10% and return on equity was 194.70% for NOG. The company reported revenue of $582.21 million for the quarter, compared to -$32.93 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -1868.04 percent. For the current quarter, analysts expect NOG to generate $431.11M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/31/2023. Investors who held shares on 06/29/2023 were paid a $0.37 dividend. On an annualized basis, this represents a $1.48 dividend and a 4.34% percent yield. There was an ex-dividend date of 06/28/2023 for this dividend. In terms of dividend payout ratio, NOG is presently at 6.70%.
Northern Oil and Gas Inc.(NOG) 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. The company is based in Minnetonka, Minnesota.
