Northern Oil and Gas, Inc. (NYSE:NOG) President Sells $96,558.00 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total transaction of $96,558.00. Following the sale, the president now directly owns 107,876 shares of the company’s stock, valued at $4,153,226. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Northern Oil and Gas Stock Up 1.5 %

NOG stock opened at $39.66 on Monday. The business’s 50 day simple moving average is $37.65 and its 200 day simple moving average is $39.09. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $43.80. The firm has a market capitalization of $4.01 billion, a PE ratio of 6.43 and a beta of 1.81. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The firm had revenue of $560.80 million during the quarter, compared to the consensus estimate of $542.28 million. During the same period last year, the business posted $1.49 earnings per share. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, research analysts anticipate that Northern Oil and Gas, Inc. will post 5.29 EPS for the current year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.42 dividend. The ex-dividend date is Friday, September 27th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 4.24%. Northern Oil and Gas’s payout ratio is 27.23%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Northern Oil and Gas by 0.4% in the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock valued at $421,857,000 after acquiring an additional 43,940 shares during the period. UniSuper Management Pty Ltd acquired a new stake in Northern Oil and Gas in the 1st quarter worth about $1,046,000. Motley Fool Asset Management LLC boosted its holdings in Northern Oil and Gas by 29.0% in the 1st quarter. Motley Fool Asset Management LLC now owns 72,533 shares of the company’s stock valued at $2,878,000 after purchasing an additional 16,302 shares during the period. Silvercrest Asset Management Group LLC grew its position in shares of Northern Oil and Gas by 1.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 749,668 shares of the company’s stock worth $29,747,000 after purchasing an additional 12,814 shares in the last quarter. Finally, Capstone Investment Advisors LLC increased its holdings in shares of Northern Oil and Gas by 8,679.3% during the first quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after purchasing an additional 507,129 shares during the period. 98.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOG has been the subject of a number of analyst reports. Bank of America lifted their price objective on Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Piper Sandler reduced their price objective on shares of 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, Morgan Stanley dropped their target price on 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

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.