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

Northern Oil and Gas, Inc. (NYSE:NOGGet Free Report) President Adam A. Dirlam sold 1,392 shares of Northern Oil and Gas stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $40.86, for a total transaction of $56,877.12. Following the completion of the transaction, the president now owns 109,020 shares in the company, valued at approximately $4,454,557.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Northern Oil and Gas Stock Performance

Northern Oil and Gas stock opened at $37.85 on Thursday. Northern Oil and Gas, Inc. has a 12-month low of $30.47 and a 12-month high of $43.75. 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 has a market capitalization of $3.83 billion, a price-to-earnings ratio of 6.13 and a beta of 1.76. The firm’s fifty day moving average price is $40.85 and its 200 day moving average price is $37.67.

Northern Oil and Gas (NYSE:NOGGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.18 by $0.10. The business had revenue of $396.35 million for the quarter, compared to analysts’ expectations of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. The company’s revenue was down 31.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.76 earnings per share. On average, research analysts forecast that Northern Oil and Gas, Inc. will post 5.03 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Thursday, June 27th. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 25.93%.

Institutional Trading of Northern Oil and Gas

A number of hedge funds have recently made changes to their positions in the stock. Westfield Capital Management Co. LP boosted its holdings in Northern Oil and Gas by 9.3% in the fourth 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 period. Ninepoint Partners LP boosted its position in shares of Northern Oil and Gas by 12.5% during the 4th quarter. Ninepoint Partners LP now owns 450,000 shares of the company’s stock valued at $16,682,000 after purchasing an additional 50,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Northern Oil and Gas by 34.6% during the fourth 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 grew its holdings in shares of Northern Oil and Gas by 11.6% in the 3rd quarter. Wellington Management Group LLP now owns 417,265 shares of the company’s stock worth $16,787,000 after acquiring an additional 43,527 shares during the last quarter. Finally, Sei Investments Co. raised its holdings 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 during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NOG shares. Citigroup lowered their price target on Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Morgan Stanley boosted their target price on Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Piper Sandler raised their price target on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Tuesday, May 14th. Truist Financial increased 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 report on Wednesday, May 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price target on shares of Northern Oil and Gas in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

View Our Latest Research Report on Northern Oil and Gas

About Northern Oil and Gas

(Get Free Report)

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.

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