Nicholas L. O’grady Purchases 1,000 Shares of Northern Oil and Gas, Inc. (NYSE:NOG) Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CEO Nicholas L. O’grady purchased 1,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were bought at an average price of $27.48 per share, with a total value of $27,480.00. Following the completion of the transaction, the chief executive officer now owns 226,189 shares of the company’s stock, valued at approximately $6,215,673.72. The trade was a 0.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Northern Oil and Gas Trading Up 1.9 %

NYSE NOG traded up $0.52 during trading on Monday, hitting $28.01. The company had a trading volume of 208,946 shares, compared to its average volume of 1,640,649. Northern Oil and Gas, Inc. has a one year low of $26.59 and a one year high of $44.31. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 5.46 and a beta of 1.84. The company’s fifty day moving average is $36.12 and its 200-day moving average is $37.69. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.16). The firm had revenue of $545.47 million during the quarter, compared to the consensus estimate of $552.34 million. Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. On average, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, March 28th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.80 annualized dividend and a yield of 6.43%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 35.02%.

Institutional Trading of Northern Oil and Gas

A number of hedge funds have recently modified their holdings of NOG. Icon Wealth Advisors LLC purchased a new position in Northern Oil and Gas during the 3rd quarter valued at about $828,000. Principal Financial Group Inc. grew its holdings in Northern Oil and Gas by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 481,797 shares of the company’s stock worth $17,904,000 after purchasing an additional 11,690 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Northern Oil and Gas by 36.1% during the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company’s stock valued at $2,877,000 after purchasing an additional 20,550 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of Northern Oil and Gas during the fourth quarter valued at approximately $393,000. Finally, Heritage Family Offices LLP bought a new stake in shares of Northern Oil and Gas in the 4th quarter worth approximately $244,000. Institutional investors own 98.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Truist Financial upped their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. Citigroup cut their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Capital One Financial downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. Morgan Stanley set a $43.00 target price on Northern Oil and Gas in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada cut their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.89.

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.