Northern Oil and Gas, Inc. (NYSE:NOG) CFO Sells $60,000.00 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen sold 1,500 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 83,792 shares in the company, valued at $3,351,680. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Northern Oil and Gas Price Performance

Shares of NYSE NOG traded down $0.28 during midday trading on Wednesday, hitting $39.08. The company had a trading volume of 818,854 shares, compared to its average volume of 1,349,207. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $43.80. The business has a 50-day simple moving average of $37.62 and a two-hundred day simple moving average of $39.10. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 6.38 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $542.28 million. During the same quarter last year, the business earned $1.49 earnings per share. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be issued a dividend of $0.42 per share. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 4.30%. The ex-dividend date is Friday, September 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is 27.23%.

Analyst Ratings Changes

A number of research firms recently commented on NOG. Bank of America increased their target price on shares of 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. Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective on the stock. StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Truist Financial lowered their price objective on shares of Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

Hedge Funds Weigh In On Northern Oil and Gas

Several hedge funds have recently added to or reduced their stakes in NOG. Teachers Retirement System of The State of Kentucky increased its holdings in Northern Oil and Gas by 18.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 31,030 shares of the company’s stock valued at $1,150,000 after acquiring an additional 4,800 shares in the last quarter. Wellington Management Group LLP increased its holdings in Northern Oil and Gas by 10.5% during the 4th quarter. Wellington Management Group LLP now owns 461,090 shares of the company’s stock valued at $17,093,000 after acquiring an additional 43,825 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Northern Oil and Gas by 36.4% during the fourth quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after buying an additional 2,827,642 shares in the last quarter. Insight Wealth Strategies LLC grew its holdings in shares of Northern Oil and Gas by 4.4% during the first quarter. Insight Wealth Strategies LLC now owns 26,480 shares of the company’s stock worth $1,051,000 after buying an additional 1,114 shares in the last quarter. Finally, RFG Advisory LLC grew its holdings in shares of Northern Oil and Gas by 21.0% during the first quarter. RFG Advisory LLC now owns 7,439 shares of the company’s stock worth $295,000 after buying an additional 1,291 shares in the last quarter. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

About Northern Oil and Gas

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.