Insider Selling: Northern Oil and Gas, Inc. (NYSE:NOG) Insider Sells 1,500 Shares of Stock

Northern Oil and Gas, Inc. (NYSE:NOG) insider Erik J. Romslo sold 1,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the sale, the insider now directly owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Northern Oil and Gas Stock Performance

Shares of NYSE:NOG traded up $0.48 on Wednesday, hitting $36.88. 1,536,842 shares of the company were exchanged, compared to its average volume of 1,350,094. The firm has a market capitalization of $3.73 billion, a P/E ratio of 5.90 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 1-year low of $31.13 and a 1-year high of $43.80. The stock’s 50 day moving average price is $37.70 and its 200 day moving average price is $39.10.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The business had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. During the same quarter last year, the company earned $1.49 EPS. The business’s revenue was up 17.7% on a year-over-year basis. Sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.29 EPS for the current year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, September 27th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio (DPR) is 27.23%.

Institutional Investors Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in 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 acquiring an additional 528 shares during the last quarter. TFO Wealth Partners LLC increased its stake in shares of Northern Oil and Gas by 112,100.0% in the 4th 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 last quarter. Quarry LP raised its holdings in shares of Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after acquiring an additional 874 shares during the period. Fifth Third Bancorp grew its holdings in shares of Northern Oil and Gas by 88.2% in the second quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock valued at $82,000 after purchasing an additional 1,033 shares during the period. Finally, Marks Group Wealth Management Inc purchased a new position in Northern Oil and Gas during the first quarter worth about $215,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on NOG shares. Morgan Stanley lowered their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. 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 downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Mizuho initiated coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They set an “outperform” rating and a $47.00 target price for the company. Finally, Piper Sandler decreased their target price 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. 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.60.

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.