Northern Oil and Gas, Inc. (NYSE:NOG) CEO Purchases $27,480.00 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CEO Nicholas L. O’grady bought 1,000 shares of the stock in a transaction on Friday, March 7th. The stock was bought at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the purchase, the chief executive officer now directly owns 226,189 shares in the company, valued at approximately $6,215,673.72. The trade was a 0.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Northern Oil and Gas Stock Up 0.3 %

Northern Oil and Gas stock opened at $27.98 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. Northern Oil and Gas, Inc. has a 1-year low of $26.59 and a 1-year high of $44.31. The company has a market cap of $2.77 billion, a PE ratio of 5.44 and a beta of 1.84. The stock’s 50 day moving average price is $35.77 and its 200 day moving average price is $37.54.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.16). The firm had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. On average, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, March 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 6.43%. Northern Oil and Gas’s payout ratio is currently 35.02%.

Northern Oil and Gas announced that its board has approved a share repurchase plan on Tuesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Northern Oil and Gas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Northern Oil and Gas during the 4th quarter worth about $1,128,000. GTS Securities LLC boosted its position in Northern Oil and Gas by 238.2% during the fourth quarter. GTS Securities LLC now owns 22,318 shares of the company’s stock worth $829,000 after acquiring an additional 15,718 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Northern Oil and Gas during the fourth quarter worth approximately $1,683,000. Woodline Partners LP purchased a new stake in Northern Oil and Gas in the 4th quarter worth approximately $997,000. Finally, iSAM Funds UK Ltd acquired a new position in Northern Oil and Gas in the 4th quarter valued at $373,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NOG. Truist Financial lifted their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Piper Sandler lowered their target price on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Capital One Financial downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research note on Monday, December 16th. Finally, Morgan Stanley set a $43.00 target price on Northern Oil and Gas in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and an average target price of $46.89.

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.