Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen Sells 500 Shares

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

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $40.77 on Tuesday. The company’s 50-day moving average is $39.88 and its two-hundred day moving average is $38.70. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 4.89 and a beta of 1.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.23 and a quick ratio of 1.23. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $44.31.

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

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 4.12%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 20.17%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NOG. Morgan Stanley reduced their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Piper Sandler decreased their target price on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $45.00 price target on shares of Northern Oil and Gas in a research report on Friday. Jefferies Financial Group started coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price objective on the stock. Finally, Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Northern Oil and Gas by 1.5% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,201 shares of the company’s stock valued at $822,000 after acquiring an additional 350 shares during the period. GAMMA Investing LLC raised its position in Northern Oil and Gas by 21.0% in the fourth quarter. GAMMA Investing LLC now owns 2,120 shares of the company’s stock valued at $79,000 after purchasing an additional 368 shares during the period. Easterly Investment Partners LLC lifted its stake in Northern Oil and Gas by 0.8% during the third quarter. Easterly Investment Partners LLC now owns 50,601 shares of the company’s stock worth $1,792,000 after purchasing an additional 380 shares in the last quarter. Signaturefd LLC boosted its position in shares of Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after buying an additional 427 shares during the period. Finally, CWM LLC boosted its position in shares of Northern Oil and Gas by 24.8% during the third quarter. CWM LLC now owns 2,237 shares of the company’s stock worth $79,000 after buying an additional 444 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

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.