Northern Oil and Gas, Inc. (NYSE:NOG) CFO Sells $60,000.00 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $40.00, for a total value of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 83,792 shares in the company, valued at $3,351,680. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $39.87 on Friday. 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 $3.99 billion, a PE ratio of 7.06 and a beta of 1.81. The business’s 50 day moving average is $37.50 and its 200-day moving average is $39.10. 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 posted its earnings results on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.20 by $0.26. The business had revenue of $560.80 million during the quarter, compared to the consensus estimate of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. Northern Oil and Gas’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company earned $1.49 EPS. Sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Friday, September 27th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio (DPR) is 29.73%.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently modified their holdings of NOG. Creative Planning raised its position in Northern Oil and Gas by 18.1% in the 3rd quarter. Creative Planning now owns 27,994 shares of the company’s stock valued at $991,000 after purchasing an additional 4,282 shares during the last quarter. Wesbanco Bank Inc. bought a new position in Northern Oil and Gas in the 3rd quarter valued at $1,080,000. CWM LLC raised its position in Northern Oil and Gas by 24.8% in the 3rd quarter. CWM LLC now owns 2,237 shares of the company’s stock valued at $79,000 after purchasing an additional 444 shares during the last quarter. Insight Wealth Strategies LLC raised its position in Northern Oil and Gas by 2.2% in the 3rd quarter. Insight Wealth Strategies LLC now owns 27,799 shares of the company’s stock valued at $984,000 after purchasing an additional 602 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Northern Oil and Gas by 58.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock valued at $62,000 after purchasing an additional 647 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Mizuho began coverage on Northern Oil and Gas in a report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price on the stock. Piper Sandler lowered their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. Finally, Bank of America raised their target price on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.