Northern Oil and Gas (NYSEAMERICAN:NOG) Trading Down 7.2%

Northern Oil and Gas, Inc. (NYSEAMERICAN:NOGGet Rating)’s stock price dropped 7.2% on Friday . The stock traded as low as $29.82 and last traded at $29.82. Approximately 14,505 shares were traded during trading, a decline of 99% from the average daily volume of 1,163,354 shares. The stock had previously closed at $32.15.

NOG has been the subject of several recent research reports. Truist Financial boosted their price objective on Northern Oil and Gas from $52.00 to $58.00 in a report on Monday. TheStreet cut Northern Oil and Gas from a “c-” rating to a “d” rating in a report on Thursday, May 5th. Citigroup boosted their price objective on Northern Oil and Gas from $31.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, April 26th. Raymond James boosted their price objective on Northern Oil and Gas from $48.00 to $55.00 in a report on Thursday, June 9th. Finally, Bank of America cut Northern Oil and Gas from a “buy” rating to a “neutral” rating and upped their price target for the company from $33.00 to $38.00 in a research note on Tuesday, March 8th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $41.10.

The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 3.73. The stock has a market cap of $2.24 billion, a PE ratio of -28.71, a P/E/G ratio of 0.51 and a beta of 2.25.

Northern Oil and Gas (NYSEAMERICAN:NOGGet Rating) last released its quarterly earnings results on Thursday, May 5th. The energy company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.31. Northern Oil and Gas had a negative return on equity of 351.74% and a net margin of 1.28%. During the same quarter in the prior year, the company posted $0.62 earnings per share. Equities research analysts expect that Northern Oil and Gas, Inc. will post 5.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Wednesday, June 29th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Tuesday, June 28th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.14. Northern Oil and Gas’s dividend payout ratio is presently -54.90%.

In other Northern Oil and Gas news, insider Michael D. Kelly sold 13,000 shares of the stock in a transaction on Friday, April 1st. The stock was sold at an average price of $28.34, for a total transaction of $368,420.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Robert B. Rowling sold 400,000 shares of the stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $33.26, for a total value of $13,304,000.00. Following the transaction, the insider now owns 8,563,719 shares in the company, valued at approximately $284,829,293.94. The disclosure for this sale can be found here. In the last three months, insiders sold 530,860 shares of company stock valued at $17,562,979. 4.40% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of NOG. TCI Wealth Advisors Inc. acquired a new stake in Northern Oil and Gas in the first quarter valued at about $29,000. Dark Forest Capital Management LP acquired a new stake in Northern Oil and Gas in the third quarter valued at about $44,000. Point72 Hong Kong Ltd acquired a new stake in Northern Oil and Gas in the first quarter valued at about $128,000. Federated Hermes Inc. boosted its stake in Northern Oil and Gas by 104.4% in the first quarter. Federated Hermes Inc. now owns 4,540 shares of the energy company’s stock valued at $128,000 after buying an additional 2,319 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Northern Oil and Gas by 26.4% in the first quarter. Ameritas Investment Partners Inc. now owns 4,741 shares of the energy company’s stock valued at $134,000 after buying an additional 990 shares in the last quarter. Institutional investors own 88.47% of the company’s stock.

Northern Oil and Gas Company Profile (NYSEAMERICAN:NOG)

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. The company primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.

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