Northern Oil and Gas (NYSEAMERICAN:NOG) Shares Gap Up to $19.21

Northern Oil and Gas, Inc. (NYSEAMERICAN:NOG)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $19.21, but opened at $20.00. Northern Oil and Gas shares last traded at $20.20, with a volume of 1,433 shares traded.

A number of analysts recently weighed in on NOG shares. Raymond James increased their price target on shares of Northern Oil and Gas from $30.00 to $32.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 1st. Bank of America started coverage on shares of Northern Oil and Gas in a research note on Monday, June 21st. They issued a “buy” rating for the company. Piper Sandler upgraded shares of Northern Oil and Gas from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $22.00 to $23.00 in a research note on Thursday, July 22nd. Zacks Investment Research upgraded shares of Northern Oil and Gas from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research note on Tuesday, September 21st. Finally, Roth Capital reduced their target price on shares of Northern Oil and Gas from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, July 20th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $20.00.

The company’s 50 day moving average price is $8.60. The company has a market cap of $1.33 billion, a PE ratio of -1.61, a price-to-earnings-growth ratio of 0.18 and a beta of 2.76.

Northern Oil and Gas (NYSEAMERICAN:NOG) last announced its quarterly earnings data on Wednesday, August 4th. The energy company reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.23. Northern Oil and Gas had a negative net margin of 387.23% and a negative return on equity of 102.70%. The firm had revenue of $225.72 million during the quarter, compared to analysts’ expectations of $182.16 million. Analysts anticipate that Northern Oil and Gas, Inc. will post 3.11 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.045 per share. The ex-dividend date is Wednesday, September 29th. This represents a $0.18 annualized dividend and a yield of 0.89%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 6.59%.

A number of large investors have recently bought and sold shares of NOG. US Bancorp DE purchased a new stake in shares of Northern Oil and Gas during the second quarter worth about $26,000. FORA Capital LLC purchased a new stake in shares of Northern Oil and Gas during the second quarter worth about $29,000. GoalVest Advisory LLC purchased a new stake in shares of Northern Oil and Gas during the second quarter worth about $30,000. Federated Hermes Inc. purchased a new stake in shares of Northern Oil and Gas during the second quarter worth about $31,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of Northern Oil and Gas during the second quarter worth about $43,000. Hedge funds and other institutional investors own 64.26% of the company’s stock.

About Northern Oil and Gas (NYSEAMERICAN:NOG)

Northern Oil & Gas, Inc engages in the acquisition, exploration, development, and production of crude oil and natural gas properties. It focuses on the Bakken and Three Forks formation within the Williston Basin in North Dakota and Montana. The company was founded on March 20, 2007 and is headquartered in Minnetonka, MN.

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