Northern Oil and Gas, Inc. (NYSE:NOG) President Sells $32,604.00 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 836 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $39.00, for a total value of $32,604.00. Following the transaction, the president now directly owns 96,223 shares of the company’s stock, valued at $3,752,697. The trade was a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Northern Oil and Gas Trading Up 1.9 %

Shares of Northern Oil and Gas stock opened at $39.22 on Wednesday. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 4.71 and a beta of 1.85. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $44.31. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a 50 day moving average of $39.59 and a 200 day moving average of $38.66.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The company had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. During the same period in the prior year, the business posted $1.73 earnings per share. The firm’s revenue for the quarter was up 140.0% compared to the same quarter last year. As a group, research analysts predict that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a dividend of $0.42 per share. The ex-dividend date is Monday, December 30th. This represents a $1.68 annualized dividend and a dividend yield of 4.28%. Northern Oil and Gas’s dividend payout ratio is currently 20.17%.

Analyst Ratings Changes

A number of brokerages have commented on NOG. Royal Bank of Canada cut Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. Jefferies Financial Group began coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 target price for the company. Piper Sandler reduced their target price on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, December 17th. Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research report on Monday, December 16th. Finally, Truist Financial upped their price target on Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.20.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NOG. Dimensional Fund Advisors LP boosted its position in shares of Northern Oil and Gas by 45.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock worth $93,744,000 after buying an additional 789,985 shares during the period. American Century Companies Inc. boosted its position in shares of Northern Oil and Gas by 11.0% during the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after buying an additional 552,645 shares during the period. abrdn plc purchased a new position in shares of Northern Oil and Gas during the third quarter worth $17,096,000. Bridgewater Associates LP raised its stake in shares of Northern Oil and Gas by 135.6% in the third quarter. Bridgewater Associates LP now owns 511,170 shares of the company’s stock valued at $18,101,000 after acquiring an additional 294,223 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in shares of Northern Oil and Gas by 41.4% in the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company’s stock valued at $33,320,000 after acquiring an additional 275,704 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

About Northern Oil and Gas

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.