Insider Selling: Northern Oil and Gas, Inc. (NYSE:NOG) President Sells $52,728.96 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.88, for a total transaction of $52,728.96. Following the transaction, the president now directly owns 107,628 shares of the company’s stock, valued at $4,076,948.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Northern Oil and Gas Price Performance

NOG stock opened at $38.86 on Friday. The firm has a 50 day moving average of $39.17 and a 200-day moving average of $37.81. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 6.30 and a beta of 1.79. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. Northern Oil and Gas, Inc. has a 12-month low of $31.13 and a 12-month high of $43.75.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.10. The firm had revenue of $396.35 million during the quarter, compared to analysts’ expectations of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. Northern Oil and Gas’s revenue was down 31.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.76 earnings per share. As a group, equities analysts expect that Northern Oil and Gas, Inc. will post 4.95 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, June 27th will be paid a $0.40 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a yield of 4.12%. Northern Oil and Gas’s payout ratio is 25.93%.

Wall Street Analysts Forecast Growth

NOG has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Bank of America reissued a “buy” rating and issued a $48.00 price target on shares of Northern Oil and Gas in a report on Friday, June 14th. Citigroup dropped their target price on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Royal Bank of Canada restated an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday. Finally, Truist Financial lifted their price objective 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. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Northern Oil and Gas currently has an average rating of “Moderate Buy” and an average target price of $48.90.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds have recently added to or reduced their stakes in NOG. GAMMA Investing LLC grew its position in shares of Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after purchasing an additional 528 shares during the last quarter. Boston Partners purchased a new stake in Northern Oil and Gas in the 1st quarter valued at approximately $885,000. Verity Asset Management Inc. acquired a new stake in Northern Oil and Gas during the 1st quarter valued at $423,000. Garner Asset Management Corp acquired a new stake in Northern Oil and Gas during the 1st quarter valued at $281,000. Finally, Motley Fool Asset Management LLC increased its position in Northern Oil and Gas by 31.4% during the first quarter. Motley Fool Asset Management LLC now owns 73,863 shares of the company’s stock worth $2,931,000 after buying an additional 17,632 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

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.