Northern Oil and Gas, Inc. (NYSE:NOG) CFO Sells $20,165.00 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen sold 500 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.33, for a total value of $20,165.00. Following the completion of the transaction, the chief financial officer now owns 75,814 shares of the company’s stock, valued at $3,057,578.62. The trade was a 0.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $41.77 on Thursday. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $44.31. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 5.01 and a beta of 1.85. The company has a 50-day simple moving average of $39.99 and a 200 day simple moving average of $38.75. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. The company had revenue of $753.64 million during the quarter, compared to analysts’ expectations of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The business’s revenue was up 140.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.73 earnings per share. On average, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas’s payout ratio is 20.17%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NOG. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research note on Monday, December 16th. Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 price target on shares of Northern Oil and Gas in a research report on Friday, January 10th. Truist Financial lifted their price objective on shares of Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday. Finally, Piper Sandler dropped their target price on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.50.

Institutional Investors Weigh In On Northern Oil and Gas

Institutional investors have recently modified their holdings of the business. Icon Wealth Advisors LLC acquired a new stake in Northern Oil and Gas in the 3rd quarter worth about $828,000. Mutual of America Capital Management LLC raised its position in shares of Northern Oil and Gas by 16.3% in the second quarter. Mutual of America Capital Management LLC now owns 443,264 shares of the company’s stock valued at $16,476,000 after buying an additional 62,254 shares in the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Northern Oil and Gas in the second quarter valued at approximately $939,000. Wesbanco Bank Inc. acquired a new stake in Northern Oil and Gas during the third quarter worth approximately $1,080,000. Finally, Quantbot Technologies LP increased its stake in Northern Oil and Gas by 27.8% during the 2nd quarter. Quantbot Technologies LP now owns 82,340 shares of the company’s stock worth $3,061,000 after acquiring an additional 17,909 shares during the period. Institutional investors own 98.80% of the company’s stock.

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.