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 firm’s stock in a transaction that occurred on Monday, January 6th. The stock was 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 of the company’s stock, valued at $3,752,697. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Northern Oil and Gas Trading Up 1.9 %

NOG opened at $39.22 on Wednesday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 4.71 and a beta of 1.85. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $44.31. The stock has a fifty day moving average price of $39.59 and a 200-day moving average price of $38.66.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping 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 firm had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. During the same period in the previous year, the business earned $1.73 EPS. The firm’s revenue for the quarter was up 140.0% on a year-over-year basis. As a group, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a dividend of $0.42 per share. The ex-dividend date is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 4.28%. Northern Oil and Gas’s payout ratio is presently 20.17%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NOG. Truist Financial raised their price target on 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. Piper Sandler decreased their price target on 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. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 target price for the company. Royal Bank of Canada lowered Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $43.00 to $45.00 in a research report on Wednesday, November 20th. Finally, Mizuho lowered Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, 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

A number of hedge funds have recently modified their holdings of NOG. Natixis Advisors LLC boosted its stake in shares of Northern Oil and Gas by 23.8% in the second quarter. Natixis Advisors LLC now owns 82,456 shares of the company’s stock worth $3,065,000 after buying an additional 15,870 shares during the last quarter. Rhumbline Advisers raised its holdings in Northern Oil and Gas by 12.0% in the 2nd quarter. Rhumbline Advisers now owns 285,609 shares of the company’s stock worth $10,616,000 after purchasing an additional 30,690 shares during the period. Victory Capital Management Inc. raised its holdings in Northern Oil and Gas by 1.1% in the 2nd 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 during the period. Arizona State Retirement System raised its holdings in Northern Oil and Gas by 2.2% in the 2nd 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 acquired a new position in Northern Oil and Gas in the 2nd quarter worth about $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.