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 the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $37.88, for a total value of $52,728.96. Following the sale, the president now directly owns 107,628 shares of the company’s stock, valued at approximately $4,076,948.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Northern Oil and Gas Stock Up 1.0 %

Shares of NYSE NOG opened at $38.07 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.96 and a current ratio of 0.96. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $43.75. The stock has a market capitalization of $3.85 billion, a P/E ratio of 6.17 and a beta of 1.80. The stock’s fifty day moving average is $39.34 and its 200 day moving average is $37.80.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, topping 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 company had revenue of $396.35 million for the quarter, compared to analysts’ expectations of $505.67 million. During the same quarter last year, the business earned $1.76 earnings per share. Northern Oil and Gas’s revenue was down 31.9% on a year-over-year basis. Sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.01 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, June 27th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a 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 Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Westfield Capital Management Co. LP grew its position in Northern Oil and Gas by 9.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock valued at $57,003,000 after acquiring an additional 131,448 shares during the last quarter. Ninepoint Partners LP grew its position in Northern Oil and Gas by 12.5% in the fourth quarter. Ninepoint Partners LP now owns 450,000 shares of the company’s stock valued at $16,682,000 after acquiring an additional 50,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Northern Oil and Gas by 34.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,963 shares of the company’s stock valued at $555,000 after acquiring an additional 3,848 shares during the last quarter. Wellington Management Group LLP grew its position in Northern Oil and Gas by 11.6% in the third quarter. Wellington Management Group LLP now owns 417,265 shares of the company’s stock valued at $16,787,000 after acquiring an additional 43,527 shares during the last quarter. Finally, Sei Investments Co. grew its position in Northern Oil and Gas by 38.6% in the third quarter. Sei Investments Co. now owns 419,762 shares of the company’s stock valued at $16,888,000 after acquiring an additional 116,983 shares during the last quarter. Institutional investors own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

NOG has been the subject of several research reports. Bank of America reaffirmed a “buy” rating and set a $48.00 price target on shares of Northern Oil and Gas in a report on Friday, June 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Jefferies Financial Group lifted their target price on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Truist Financial lifted their target price on Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Piper Sandler lifted their target price on Northern Oil and Gas from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.90.

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.