Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen Sells 500 Shares

Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen sold 500 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.33, for a total transaction of $20,165.00. Following the transaction, the chief financial officer now owns 75,814 shares in the company, valued at $3,057,578.62. This represents a 0.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Northern Oil and Gas Stock Performance

NYSE NOG traded up $0.81 during midday trading on Monday, hitting $40.77. The company had a trading volume of 1,089,075 shares, compared to its average volume of 1,085,044. The firm has a fifty day simple moving average of $39.79 and a two-hundred day simple moving average of $38.68. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week 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. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 4.89 and a beta of 1.85.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The business had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The firm’s revenue for the quarter was up 140.0% compared to the same quarter last year. During the same period last year, the business earned $1.73 earnings per share. Equities analysts forecast that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.12%. Northern Oil and Gas’s payout ratio is 20.17%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in shares of Northern Oil and Gas by 1.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 141,100 shares of the company’s stock valued at $5,243,000 after buying an additional 2,636 shares in the last quarter. Range Financial Group LLC acquired a new position in Northern Oil and Gas in the fourth quarter worth about $332,000. Insight Wealth Strategies LLC lifted its stake in Northern Oil and Gas by 2.7% during the fourth quarter. Insight Wealth Strategies LLC now owns 28,550 shares of the company’s stock worth $1,061,000 after purchasing an additional 751 shares during the period. Doliver Advisors LP boosted its holdings in Northern Oil and Gas by 2.9% during the fourth quarter. Doliver Advisors LP now owns 28,667 shares of the company’s stock valued at $1,065,000 after purchasing an additional 800 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Northern Oil and Gas by 21.0% in the 4th quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after purchasing an additional 368 shares during the period. 98.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on NOG shares. Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Monday, December 16th. Truist Financial boosted their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler lowered their price target on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. 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 research note on Friday. Finally, Morgan Stanley lowered their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.50.

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.