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

Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen sold 500 shares of Northern Oil and Gas stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.33, for a total transaction of $20,165.00. Following the completion of the transaction, the chief financial officer now directly owns 75,814 shares of the company’s stock, valued at approximately $3,057,578.62. This trade represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Northern Oil and Gas Trading Up 1.0 %

NOG stock opened at $41.20 on Wednesday. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $44.31. The company has a market capitalization of $4.11 billion, a PE ratio of 4.95 and a beta of 1.85. The company’s 50-day simple moving average is $39.97 and its 200 day simple moving average is $38.73. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23.

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 analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The firm had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. During the same quarter in the previous year, the firm posted $1.73 EPS. The business’s revenue for the quarter was up 140.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The business also recently disclosed 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 of this dividend is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.08%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 20.17%.

Wall Street Analysts Forecast Growth

NOG has been the subject of several recent analyst reports. Piper Sandler cut their target price on shares of 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. Truist Financial raised their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday. 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. Jefferies Financial Group started coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target for the company. Finally, Royal Bank of Canada reiterated 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Northern Oil and Gas currently has an average rating of “Moderate Buy” and an average target price of $47.50.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOG. Icon Wealth Advisors LLC acquired a new position in Northern Oil and Gas in the third quarter valued at about $828,000. Mutual of America Capital Management LLC increased its holdings in Northern Oil and Gas by 16.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 443,264 shares of the company’s stock valued at $16,476,000 after buying an additional 62,254 shares during the period. Heritage Wealth Management Inc. bought a new stake in shares of Northern Oil and Gas during the 2nd quarter worth approximately $939,000. Wesbanco Bank Inc. acquired a new stake in shares of Northern Oil and Gas during the 3rd quarter worth approximately $1,080,000. Finally, Quantbot Technologies LP increased its stake in Northern Oil and Gas by 27.8% in the second quarter. Quantbot Technologies LP now owns 82,340 shares of the company’s stock valued at $3,061,000 after acquiring an additional 17,909 shares during the last quarter. 98.80% of the stock is 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.