Stocks of Northern Oil and Gas Inc. (NYSE:NOG) traded higher last session on Wall Street, up 0.03% to $39.38.
According to the data, Northern Oil and Gas Inc. (NYSE:NOG) has 12 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $54.00 and a low of $41.00, we find $45.00. Given the previous closing price of $39.37, this indicates a potential upside of 14.3 percent. NOG stock price is now 15.87% away from the 50-day moving average and 19.87% away from the 200-day moving average. The market capitalization of the company currently stands at $3.57B.
A total of 0 analysts have issued a hold rating and 11 have given it a buy rating. Brokers who have rated the stock have averaged $46.31 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, Evans James B., Chief Technical Officer sold 1,000 shares of the company’s stock on Jul 31. The stock was sold for $40,003 at an average price of $40.00. Upon completion of the transaction, the Chief Technical Officer now directly owns 43,987 shares in the company, valued at $1.73 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 31, CFO Allen Chad W sold 200 shares of the business’s stock. A total of $8,003 was realized by selling the stock at an average price of $40.02. This leaves the insider owning 53,897 shares of the company worth $2.12 million. Insiders disposed of 644,427 shares of company stock worth roughly $25.38 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 REQUISITE CAPITAL MANAGEMENT, LLC during the first quarter worth $21,770,000. ALYESKA INVESTMENT GROUP, L.P. invested $17,850,000 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 $5,137,000. COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS acquired a new stake in NOG for approximately $3,093,000. THRIVENT FINANCIAL FOR LUTHERANS purchased a new stake in NOG valued at around $2,895,000 in the second quarter.
Wednesday’s opening bell rang with an opening price of $39.22 for Northern Oil and Gas Inc. (NYSE: NOG). During the past 12 months, Northern Oil and Gas Inc. has had a low of $24.21 and a high of $40.06. 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 $5.41B, which is based on a 2.62 price-to-earnings ratio, a 0.22 price-to-earnings-growth ratio, and a beta of 2.01. The fifty day moving average price for NOG is $34.15 and a two-hundred day moving average price translates $32.88 for the stock.
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 $417.3M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/31/2023. Investors who held shares on 09/28/2023 were paid a $0.38 dividend. On an annualized basis, this represents a $1.48 dividend and a 3.76% percent yield. There was an ex-dividend date of 09/27/2023 for this dividend. In terms of dividend payout ratio, NOG is presently at 6.70%.
