Northern Oil and Gas, Inc. (NYSE:NOG) CFO Sells $18,565.00 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen sold 500 shares of Northern Oil and Gas stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $37.13, for a total value of $18,565.00. Following the completion of the transaction, the chief financial officer now owns 85,292 shares of the company’s stock, valued at $3,166,891.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Northern Oil and Gas Stock Performance

Shares of NYSE:NOG traded up $0.58 during trading hours on Friday, hitting $39.66. The stock had a trading volume of 1,160,279 shares, compared to its average volume of 1,353,539. The stock’s fifty day simple moving average is $37.66 and its 200 day simple moving average is $39.08. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 6.43 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $43.80.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, July 30th. The company reported $1.46 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 firm had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. During the same period last year, the firm earned $1.49 EPS. The firm’s revenue was up 17.7% compared to the same quarter last year. Sell-side analysts anticipate that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

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

Hedge Funds Weigh In On Northern Oil and Gas

A number of institutional investors and hedge funds have recently bought and sold shares of NOG. GAMMA Investing LLC boosted its stake in Northern Oil and Gas by 91.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in Northern Oil and Gas by 112,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after buying an additional 1,121 shares in the last quarter. Quarry LP grew its holdings in Northern Oil and Gas by 338.8% during the second 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 raised its position in Northern Oil and Gas by 88.2% in the second quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock worth $82,000 after acquiring an additional 1,033 shares in the last quarter. Finally, Marks Group Wealth Management Inc acquired a new stake in Northern Oil and Gas in the 1st quarter valued at about $215,000. Institutional investors own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Jefferies Financial Group began coverage on Northern Oil and Gas in a research report on Thursday. They issued a “buy” rating and a $53.00 target price for the company. Bank of America increased their target price on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley decreased their target price on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

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.