Insider Selling: Northern Oil and Gas, Inc. (NYSE:NOG) Insider Sells 1,500 Shares of Stock

Northern Oil and Gas, Inc. (NYSE:NOG) insider Erik J. Romslo sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total transaction of $52,890.00. Following the completion of the sale, the insider now owns 105,713 shares of the company’s stock, valued at $3,727,440.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Northern Oil and Gas Trading Up 1.3 %

Shares of NYSE:NOG traded up $0.48 during midday trading on Wednesday, hitting $36.88. 1,536,842 shares of the stock were exchanged, compared to its average volume of 1,350,094. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 5.90 and a beta of 1.81. The business’s 50-day moving average price is $37.70 and its 200 day moving average price is $39.10. 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 12 month low of $31.13 and a 12 month high of $43.80.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.26. The business had revenue of $560.80 million during the quarter, compared to the consensus estimate of $542.28 million. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. Northern Oil and Gas’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.49 earnings per share. Analysts predict that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.42 dividend. 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 4.56%. The ex-dividend date is Friday, September 27th. Northern Oil and Gas’s payout ratio is currently 27.23%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after acquiring an additional 528 shares in the last quarter. TFO Wealth Partners LLC lifted its position in shares of Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after purchasing an additional 1,121 shares during the period. Quarry LP boosted its holdings in shares of Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after buying an additional 874 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Northern Oil and Gas by 88.2% in the 2nd quarter. Fifth Third Bancorp now owns 2,204 shares of the company’s stock worth $82,000 after buying an additional 1,033 shares during the last quarter. Finally, Marks Group Wealth Management Inc purchased a new position in Northern Oil and Gas in the 1st quarter worth approximately $215,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NOG shares. Mizuho began coverage on shares of Northern Oil and Gas in a research report on Thursday, September 19th. They set an “outperform” rating and a $47.00 target price for the company. Morgan Stanley decreased their target price on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. StockNews.com cut Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. Finally, Bank of America lifted their price objective on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.60.

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.