Northern Oil and Gas, Inc. (NYSE:NOG) President Sells $52,728.96 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 1,392 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.88, for a total transaction of $52,728.96. Following the completion of the transaction, the president now owns 107,628 shares in the company, valued at approximately $4,076,948.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG traded up $0.42 during mid-day trading on Tuesday, hitting $38.10. The company had a trading volume of 999,524 shares, compared to its average volume of 1,293,438. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.75. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 6.11 and a beta of 1.80. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s 50 day simple moving average is $39.44 and its two-hundred day simple moving average is $37.79.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The company had revenue of $396.35 million for the quarter, compared to analysts’ expectations of $505.67 million. During the same period last year, the business posted $1.76 earnings per share. The firm’s quarterly revenue was down 31.9% compared to the same quarter last year. As a group, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.03 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, June 27th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Thursday, June 27th. Northern Oil and Gas’s payout ratio is 25.93%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Jefferies Financial Group increased their target price on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Truist Financial boosted their price target on Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Stifel Nicolaus increased their price objective on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, Citigroup dropped their price objective on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.90.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Northern Oil and Gas by 0.4% during the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after buying an additional 43,940 shares during the last quarter. American Century Companies Inc. boosted its position in Northern Oil and Gas by 27.0% during the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after acquiring an additional 545,297 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Northern Oil and Gas by 13.8% in the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after purchasing an additional 212,030 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Northern Oil and Gas by 13.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,445,517 shares of the company’s stock valued at $58,153,000 after purchasing an additional 175,000 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Northern Oil and Gas by 5.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock valued at $56,850,000 after purchasing an additional 77,537 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

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.