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

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 836 shares of the business’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 transaction, the president now directly owns 96,223 shares in the company, valued at $3,752,697. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Northern Oil and Gas Stock Performance

NOG stock opened at $39.33 on Thursday. The firm has a market cap of $3.93 billion, a P/E ratio of 4.72 and a beta of 1.85. The stock’s 50 day simple moving average is $39.65 and its 200 day simple moving average is $38.66. 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.

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

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a $0.42 dividend. The ex-dividend date is Monday, December 30th. This represents a $1.68 dividend on an annualized basis and a yield of 4.27%. Northern Oil and Gas’s payout ratio is currently 20.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NOG shares. Royal Bank of Canada cut shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their target price for the stock from $43.00 to $45.00 in a research report on Wednesday, November 20th. 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 report on Monday, December 16th. Truist Financial raised their target price on Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Piper Sandler cut their price target on 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. Finally, Morgan Stanley lowered their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. One equities 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.20.

Institutional Trading of Northern Oil and Gas

A number of institutional investors and hedge funds have recently made changes to their positions in NOG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in Northern Oil and Gas by 1.5% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,201 shares of the company’s stock worth $822,000 after buying an additional 350 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Northern Oil and Gas by 21.0% during the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after acquiring an additional 368 shares during the period. Easterly Investment Partners LLC boosted its holdings in shares of Northern Oil and Gas by 0.8% during the third quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock valued at $1,792,000 after acquiring an additional 380 shares during the period. Signaturefd LLC grew its position in shares of Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after acquiring an additional 427 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Northern Oil and Gas by 24.8% in the 3rd quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after acquiring an additional 444 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.