Nicholas L. O’grady Purchases 1,000 Shares of Northern Oil and Gas, Inc. (NYSE:NOG) Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CEO Nicholas L. O’grady purchased 1,000 shares of Northern Oil and Gas stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the transaction, the chief executive officer now directly owns 226,189 shares of the company’s stock, valued at approximately $6,215,673.72. This represents a 0.44 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $27.98 on Wednesday. The firm has a market capitalization of $2.77 billion, a P/E ratio of 5.44 and a beta of 1.84. Northern Oil and Gas, Inc. has a 52 week low of $26.59 and a 52 week high of $44.31. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. The firm’s 50 day moving average is $35.77 and its two-hundred day moving average is $37.54.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). The company had revenue of $545.47 million during the quarter, compared to analysts’ expectations of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. Research analysts forecast that Northern Oil and Gas, Inc. will post 5.18 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a $0.45 dividend. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 6.43%. The ex-dividend date of this dividend is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio is currently 35.02%.

Northern Oil and Gas declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Morgan Stanley set a $43.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, January 22nd. Piper Sandler reduced their price target on shares of Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Truist Financial increased their price target on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Citigroup reduced their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Finally, Capital One Financial lowered shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Hold” and an average target price of $46.89.

Hedge Funds Weigh In On Northern Oil and Gas

Hedge funds have recently added to or reduced their stakes in the stock. Legacy Investment Solutions LLC purchased a new position in Northern Oil and Gas in the third quarter valued at approximately $25,000. Headlands Technologies LLC purchased a new position in shares of Northern Oil and Gas during the fourth quarter worth approximately $29,000. Blue Trust Inc. grew its position in shares of Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after acquiring an additional 801 shares during the last quarter. Avior Wealth Management LLC grew its position in shares of Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after acquiring an additional 259 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Northern Oil and Gas during the fourth quarter worth approximately $66,000. 98.80% of the stock is currently owned by hedge funds and other 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.