Insider Selling: Northern Oil and Gas, Inc. (NYSE:NOG) President Sells $32,604.00 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 836 shares of Northern Oil and Gas stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the transaction, the president now owns 96,223 shares in the company, valued at approximately $3,752,697. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Northern Oil and Gas Trading Up 0.1 %

Northern Oil and Gas stock opened at $39.33 on Friday. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $44.31. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. The stock has a market cap of $3.93 billion, a P/E ratio of 4.72 and a beta of 1.85. The company’s fifty day simple moving average is $39.71 and its 200-day simple moving average is $38.67.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The firm had revenue of $753.64 million for the quarter, compared to the consensus estimate of $540.23 million. During the same quarter in the previous year, the company posted $1.73 earnings per share. The business’s quarterly revenue was up 140.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.27%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s payout ratio is presently 20.17%.

Analyst Upgrades and Downgrades

NOG has been the topic of a number of recent research reports. Piper Sandler decreased their target price on Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a report on Tuesday, December 17th. Truist Financial lifted their price target on Northern Oil and Gas from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective for the company. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research report on Monday, December 16th. Finally, Royal Bank of Canada lowered shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.20.

Institutional Trading of Northern Oil and Gas

Several large investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new stake in shares of Northern Oil and Gas in the 3rd quarter valued at $25,000. Signaturefd LLC increased its position in Northern Oil and Gas by 100.5% during the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after buying an additional 427 shares during the last quarter. Quarry LP raised its holdings in Northern Oil and Gas by 338.8% during the second 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. GAMMA Investing LLC lifted its position in shares of Northern Oil and Gas by 58.6% in the third quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock worth $62,000 after buying an additional 647 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after acquiring an additional 1,048 shares in the last quarter. 98.80% of the stock is owned by institutional investors.

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.