Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam Sells 836 Shares

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 836 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock traded up $0.72 on Tuesday, hitting $39.22. The company had a trading volume of 1,010,645 shares, compared to its average volume of 1,022,285. The business has a 50-day simple moving average of $39.53 and a 200-day simple moving average of $38.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market cap of $3.92 billion, a PE ratio of 4.71 and a beta of 1.85. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $44.31.

Northern Oil and Gas (NYSE:NOG) last posted 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. The business 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 was up 140.0% on a year-over-year basis. During the same period last year, the firm posted $1.73 earnings per share. Research analysts expect that Northern Oil and Gas, Inc. will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.28%. 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

Several research firms recently weighed in on NOG. Piper Sandler dropped their price objective on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Monday, December 16th. Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective on the stock. Truist Financial increased their price objective on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Royal Bank of Canada lowered shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from $43.00 to $45.00 in a research note on Wednesday, November 20th. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.20.

Institutional Trading of Northern Oil and Gas

A number of large investors have recently added to or reduced their stakes in NOG. Legacy Investment Solutions LLC purchased a new stake in shares of Northern Oil and Gas in the 3rd quarter valued at approximately $25,000. Signaturefd LLC lifted its position in shares of Northern Oil and Gas by 100.5% in the 3rd quarter. Signaturefd LLC now owns 852 shares of the company’s stock valued at $30,000 after acquiring an additional 427 shares in the last quarter. Quarry LP lifted its position in shares of 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 acquiring an additional 874 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of 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 lifted its position in shares of Northern Oil and Gas by 122.6% in the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock valued at $67,000 after acquiring an additional 1,048 shares in the last quarter. 98.80% of the stock is currently owned by 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.