Adam A. Dirlam Sells 2,508 Shares of Northern Oil and Gas, Inc. (NYSE:NOG) Stock

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total transaction of $96,558.00. Following the completion of the transaction, the president now owns 107,876 shares of the company’s stock, valued at approximately $4,153,226. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Northern Oil and Gas Stock Up 1.5 %

NYSE NOG traded up $0.58 during trading hours on Friday, hitting $39.66. The company’s stock had a trading volume of 1,160,279 shares, compared to its average volume of 1,353,539. The company has a market capitalization of $4.01 billion, a PE ratio of 6.42 and a beta of 1.81. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. Northern Oil and Gas, Inc. has a 52 week low of $31.13 and a 52 week high of $43.80. The company’s 50-day simple moving average is $37.66 and its two-hundred day simple moving average is $39.08.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The company had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. During the same quarter in the previous year, the firm earned $1.49 earnings per share. Northern Oil and Gas’s quarterly revenue was up 17.7% on a year-over-year basis. Research analysts anticipate that Northern Oil and Gas, Inc. will post 5.29 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, September 27th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 4.24%. Northern Oil and Gas’s payout ratio is 27.23%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Northern Oil and Gas in a report on Thursday. They set a “buy” rating and a $53.00 price target on the stock. Piper Sandler reduced their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. StockNews.com lowered shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Truist Financial reduced their price objective on shares of Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and an average price target of $46.80.

Institutional Investors Weigh In On Northern Oil and Gas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Northern Oil and Gas by 91.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after purchasing an additional 528 shares during the period. TFO Wealth Partners LLC raised its position 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 worth $42,000 after acquiring an additional 1,121 shares during the period. Quarry LP boosted its stake in Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after acquiring an additional 874 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Northern Oil and Gas by 88.2% during the 2nd quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock valued at $82,000 after acquiring an additional 1,033 shares during the period. Finally, Marks Group Wealth Management Inc purchased a new stake in shares of Northern Oil and Gas during the 1st quarter worth approximately $215,000. Hedge funds and other 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.