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

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 1,392 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $37.88, for a total value of $52,728.96. Following the completion of the sale, the president now owns 107,628 shares of the company’s stock, valued at approximately $4,076,948.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Northern Oil and Gas Stock Up 2.1 %

NOG stock opened at $38.86 on Friday. The business’s 50 day simple moving average is $39.17 and its 200 day simple moving average is $37.81. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $43.75. The firm has a market capitalization of $3.93 billion, a PE ratio of 6.30 and a beta of 1.79. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97.

Northern Oil and Gas (NYSE:NOG) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.10. The company had revenue of $396.35 million for the quarter, compared to analyst estimates of $505.67 million. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The company’s revenue was down 31.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.76 earnings per share. As a group, research analysts anticipate that Northern Oil and Gas, Inc. will post 4.95 EPS for the current 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 given a $0.40 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.12%. Northern Oil and Gas’s payout ratio is presently 25.93%.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors and hedge funds have recently modified their holdings of NOG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Northern Oil and Gas by 1.3% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,191 shares of the company’s stock valued at $823,000 after purchasing an additional 290 shares during the period. Kornitzer Capital Management Inc. KS raised its position in shares of Northern Oil and Gas by 0.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 63,900 shares of the company’s stock valued at $2,369,000 after buying an additional 500 shares in the last quarter. Mariner LLC boosted its stake in shares of Northern Oil and Gas by 2.7% in the third quarter. Mariner LLC now owns 19,828 shares of the company’s stock valued at $798,000 after buying an additional 515 shares during the period. GAMMA Investing LLC boosted its stake in shares of Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock valued at $41,000 after buying an additional 528 shares during the period. Finally, New York State Teachers Retirement System grew its position in Northern Oil and Gas by 1.8% during the fourth quarter. New York State Teachers Retirement System now owns 36,429 shares of the company’s stock worth $1,350,000 after buying an additional 643 shares in the last quarter. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NOG has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 target price on shares of Northern Oil and Gas in a research note on Wednesday. Jefferies Financial Group raised their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. StockNews.com upgraded Northern Oil and Gas from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Bank of America reiterated a “buy” rating and set a $48.00 target price on shares of Northern Oil and Gas in a report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.90.

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.