Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam Sells 1,392 Shares of Stock

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

Northern Oil and Gas Trading Up 1.0 %

Shares of Northern Oil and Gas stock opened at $38.07 on Wednesday. The firm has a market capitalization of $3.85 billion, a PE ratio of 6.17 and a beta of 1.80. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.96 and a quick ratio of 0.96. The company’s fifty day moving average price is $39.34 and its two-hundred day moving average price is $37.80. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $43.75.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.10. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The business had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. During the same quarter in the prior year, the firm earned $1.76 EPS. The firm’s quarterly revenue was down 31.9% compared to the same quarter last year. On average, analysts expect that Northern Oil and Gas, Inc. will post 5.01 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s payout ratio is 25.93%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NOG shares. Truist Financial boosted their price objective on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, March 6th. StockNews.com upgraded shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Citigroup cut their target price on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, Jefferies Financial Group upped their target price on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and an average price target of $48.90.

Institutional Investors Weigh In On Northern Oil and Gas

Large investors have recently made changes to their positions in the company. Westfield Capital Management Co. LP grew its holdings in shares of Northern Oil and Gas by 9.3% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,537,719 shares of the company’s stock worth $57,003,000 after purchasing an additional 131,448 shares during the last quarter. Ninepoint Partners LP lifted its position in Northern Oil and Gas by 12.5% during the 4th quarter. Ninepoint Partners LP now owns 450,000 shares of the company’s stock worth $16,682,000 after buying an additional 50,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Northern Oil and Gas by 34.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,963 shares of the company’s stock worth $555,000 after buying an additional 3,848 shares in the last quarter. Wellington Management Group LLP lifted its position in Northern Oil and Gas by 11.6% during the 3rd quarter. Wellington Management Group LLP now owns 417,265 shares of the company’s stock worth $16,787,000 after buying an additional 43,527 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Northern Oil and Gas by 38.6% during the 3rd quarter. Sei Investments Co. now owns 419,762 shares of the company’s stock worth $16,888,000 after buying an additional 116,983 shares in the last quarter. Institutional investors 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.