Northern Oil and Gas, Inc. (NYSE:NOG) CFO Sells $20,165.00 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen sold 500 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $40.33, for a total value of $20,165.00. Following the sale, the chief financial officer now owns 75,814 shares of the company’s stock, valued at approximately $3,057,578.62. The trade was a 0.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $41.77 on Thursday. The stock’s fifty day simple moving average is $39.99 and its 200 day simple moving average is $38.75. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $4.17 billion, a PE ratio of 5.01 and a beta of 1.85. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, beating 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 business had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. During the same period in the previous year, the firm earned $1.73 EPS. Northern Oil and Gas’s quarterly revenue was up 140.0% compared to the same quarter last year. On average, research analysts predict that Northern Oil and Gas, Inc. will post 5.4 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Analyst Upgrades and Downgrades

NOG has been the subject of a number of research reports. Piper Sandler lowered their price objective on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price objective on shares of Northern Oil and Gas in a report on Friday, January 10th. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a report on Monday, December 16th. Finally, Truist Financial increased their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Monday. One research 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. According to MarketBeat.com, Northern Oil and Gas currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Institutional Investors Weigh In On Northern Oil and Gas

A number of hedge funds and other institutional investors have recently made changes to their positions in NOG. Legacy Investment Solutions LLC bought a new position in Northern Oil and Gas during the 3rd quarter worth about $25,000. Signaturefd LLC grew its holdings in shares of Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after buying an additional 427 shares in the last quarter. Quarry LP raised its position in Northern Oil and Gas by 338.8% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after buying an additional 874 shares during the last quarter. GAMMA Investing LLC lifted its stake in Northern Oil and Gas by 58.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock valued at $62,000 after acquiring an additional 647 shares in the last quarter. Finally, Covestor Ltd boosted its position in Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after acquiring an additional 1,048 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.