Insider Selling: Northern Oil and Gas, Inc. (NYSE:NOG) President Sells 836 Shares of Stock

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction 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 sale, the president now directly owns 96,223 shares in the company, valued at $3,752,697. The trade was a 0.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Northern Oil and Gas Trading Up 0.1 %

NYSE:NOG opened at $39.33 on Thursday. The stock has a fifty day simple moving average of $39.65 and a 200 day simple moving average of $38.66. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 4.72 and a beta of 1.85. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $44.31. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The business’s revenue for the quarter was up 140.0% on a year-over-year basis. During the same period last year, the company posted $1.73 earnings per share. Sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s payout ratio is 20.17%.

Analysts Set New Price Targets

NOG has been the subject of several research analyst reports. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Monday, December 16th. Piper Sandler reduced their price target on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, December 17th. Truist Financial raised their price objective on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 target price for the company. Finally, Royal Bank of Canada cut Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from $43.00 to $45.00 in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.20.

Institutional Trading of Northern Oil and Gas

Hedge funds have recently modified their holdings of the business. Natixis Advisors LLC raised its position in Northern Oil and Gas by 23.8% during the second quarter. Natixis Advisors LLC now owns 82,456 shares of the company’s stock valued at $3,065,000 after buying an additional 15,870 shares during the period. Rhumbline Advisers increased its holdings in shares of Northern Oil and Gas by 12.0% in the 2nd quarter. Rhumbline Advisers now owns 285,609 shares of the company’s stock valued at $10,616,000 after purchasing an additional 30,690 shares during the period. Victory Capital Management Inc. lifted its position in shares of Northern Oil and Gas by 1.1% in the second quarter. Victory Capital Management Inc. now owns 866,344 shares of the company’s stock worth $32,202,000 after purchasing an additional 9,241 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Northern Oil and Gas by 2.2% during the second quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock worth $945,000 after purchasing an additional 555 shares during the period. Finally, Choreo LLC purchased a new position in Northern Oil and Gas during the second quarter valued at approximately $266,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.

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.