Insider Selling: Northern Oil and Gas, Inc. (NYSE:NOG) CFO Sells 500 Shares of Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.20, for a total transaction of $20,100.00. Following the completion of the transaction, the chief financial officer now directly owns 82,792 shares in the company, valued at approximately $3,328,238.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Northern Oil and Gas Stock Performance

NOG stock traded up $0.39 during mid-day trading on Friday, hitting $40.93. The company had a trading volume of 1,255,184 shares, compared to its average volume of 1,332,702. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $4.10 billion, a PE ratio of 4.86 and a beta of 1.80. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.80. The stock’s fifty day moving average price is $37.13 and its two-hundred day moving average price is $38.61.

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, beating the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The company had revenue of $753.64 million for the quarter, compared to analyst estimates of $540.23 million. During the same quarter in the previous year, the firm posted $1.73 earnings per share. The company’s quarterly revenue was up 140.0% compared to the same quarter last year. On average, analysts forecast that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Northern Oil and Gas

Several large investors have recently bought and sold shares of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Northern Oil and Gas by 1.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock worth $849,000 after purchasing an additional 320 shares in the last quarter. Easterly Investment Partners LLC lifted its position in shares of Northern Oil and Gas by 0.8% in 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 in the last quarter. Signaturefd LLC boosted its stake in shares of Northern Oil and Gas by 100.5% in 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 period. CWM LLC grew its position in shares of Northern Oil and Gas by 24.8% during the third quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after purchasing an additional 444 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Northern Oil and Gas by 91.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after purchasing an additional 528 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target on the stock. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Piper Sandler reduced their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, Mizuho started coverage on Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

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.