Adam A. Dirlam Sells 1,392 Shares of Northern Oil and Gas, Inc. (NYSE:NOG) Stock

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.88, for a total transaction of $52,728.96. Following the sale, the president now directly owns 107,628 shares in the company, valued at approximately $4,076,948.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Northern Oil and Gas Stock Up 1.1 %

NOG stock traded up $0.42 during midday trading on Tuesday, hitting $38.10. The company’s stock had a trading volume of 999,524 shares, compared to its average volume of 1,293,438. The firm has a 50-day simple moving average of $39.44 and a 200-day simple moving average of $37.79. The firm has a market capitalization of $3.85 billion, a P/E ratio of 6.11 and a beta of 1.80. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.97. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $43.75.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The firm had revenue of $396.35 million during the quarter, compared to analyst estimates of $505.67 million. During the same period last year, the business posted $1.76 earnings per share. Northern Oil and Gas’s revenue was down 31.9% compared to the same quarter last year. As a group, equities analysts forecast that Northern Oil and Gas, Inc. will post 5.03 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Thursday, June 27th. Northern Oil and Gas’s dividend payout ratio is presently 25.93%.

Institutional Trading of Northern Oil and Gas

Several hedge funds have recently added to or reduced their stakes in NOG. GAMMA Investing LLC increased its position in shares of Northern Oil and Gas by 91.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares during the last quarter. Principal Securities Inc. purchased a new position in Northern Oil and Gas in the fourth quarter valued at $42,000. TFO Wealth Partners LLC raised its stake in Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after buying an additional 1,121 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in Northern Oil and Gas by 305.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after buying an additional 927 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Northern Oil and Gas by 74.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after acquiring an additional 930 shares in the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Wall Street Analyst Weigh In

NOG has been the topic of a number of research analyst reports. Truist Financial lifted their target price on Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Piper Sandler boosted their price objective on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Citigroup lowered their target price on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Stifel Nicolaus boosted their price target on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.90.

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.