Bahram Akradi Purchases 40,000 Shares of Northern Oil and Gas, Inc. (NYSE:NOG) Stock

Northern Oil and Gas, Inc. (NYSE:NOG) Director Bahram Akradi purchased 40,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $28.03 per share, for a total transaction of $1,121,200.00. Following the completion of the purchase, the director now owns 1,662,016 shares in the company, valued at $46,586,308.48. The trade was a 2.47 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Northern Oil and Gas Stock Down 2.9 %

Northern Oil and Gas stock traded down $0.82 during midday trading on Tuesday, hitting $27.60. 3,186,082 shares of the stock were exchanged, compared to its average volume of 1,577,470. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.92 and a quick ratio of 1.23. The company has a 50 day moving average price of $36.82 and a two-hundred day moving average price of $38.00. The firm has a market cap of $2.74 billion, a P/E ratio of 5.37 and a beta of 1.81. Northern Oil and Gas, Inc. has a 1 year low of $26.82 and a 1 year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The business had revenue of $545.47 million during the quarter, compared to analysts’ expectations of $552.34 million. On average, sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.18 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 Wednesday, April 30th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.45 per share. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 6.52%. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 35.02%.

Institutional Investors Weigh In On Northern Oil and Gas

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new position in Northern Oil and Gas in the third quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in Northern Oil and Gas during the fourth quarter valued at approximately $29,000. Blue Trust Inc. lifted its holdings in Northern Oil and Gas by 177.2% during the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after buying an additional 801 shares during the last quarter. Avior Wealth Management LLC grew its position in shares of Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after acquiring an additional 259 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Northern Oil and Gas in the 4th quarter worth approximately $66,000. Institutional investors own 98.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Mizuho lowered shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a report on Monday, December 16th. Capital One Financial downgraded shares of Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Citigroup decreased their price target on shares of Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Piper Sandler cut their target price on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Finally, Morgan Stanley set a $43.00 price target on Northern Oil and Gas in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Northern Oil and Gas presently has a consensus rating of “Hold” and an average price target of $46.89.

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.