Chad W. Allen Sells 500 Shares of Northern Oil and Gas, Inc. (NYSE:NOG) Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen sold 500 shares of Northern Oil and Gas stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $37.13, for a total value of $18,565.00. Following the transaction, the chief financial officer now owns 85,292 shares in the company, valued at approximately $3,166,891.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Northern Oil and Gas Stock Performance

Shares of Northern Oil and Gas stock opened at $39.66 on Friday. Northern Oil and Gas, Inc. has a one year low of $31.13 and a one year high of $43.80. The company has a market cap of $4.01 billion, a PE 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. The business has a 50-day simple moving average of $37.65 and a 200-day simple moving average of $39.09.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share 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 company 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 earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.29 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.42 dividend. The ex-dividend date of this dividend 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 dividend on an annualized basis and a yield of 4.24%. Northern Oil and Gas’s payout ratio is 27.23%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NOG shares. Morgan Stanley dropped 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 report on Monday, September 16th. Jefferies Financial Group started 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. Mizuho started coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price for the company. Bank of America lifted their target price on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler dropped their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Moderate Buy” and an average target price of $46.80.

Hedge Funds Weigh In On Northern Oil and Gas

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 528 shares during the last quarter. TFO Wealth Partners LLC increased its position 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 worth $42,000 after buying an additional 1,121 shares during the period. Quarry LP lifted 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 buying an additional 874 shares during the last quarter. Fifth Third Bancorp boosted 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 acquiring an additional 1,033 shares during the period. Finally, Marks Group Wealth Management Inc purchased a new position in shares of Northern Oil and Gas during the first quarter worth approximately $215,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

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.