Chad W. Allen Sells 500 Shares of Northern Oil and Gas, Inc. (NYSE:NOG) Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen sold 500 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $37.13, for a total value of $18,565.00. Following the completion of the transaction, the chief financial officer now directly owns 85,292 shares of the company’s stock, valued at approximately $3,166,891.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Northern Oil and Gas Stock Performance

NYSE NOG opened at $39.66 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.89 and a quick ratio of 0.89. The stock’s 50 day simple moving average is $37.65 and its 200-day simple moving average is $39.09. The company has a market cap of $4.01 billion, a PE ratio of 6.43 and a beta of 1.81. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $43.80.

Northern Oil and Gas (NYSE:NOG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The company had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. During the same quarter last year, the firm posted $1.49 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. As a group, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.29 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, September 27th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 4.24%. Northern Oil and Gas’s payout ratio is presently 27.23%.

Institutional Trading of Northern Oil and Gas

A number of hedge funds have recently bought and sold shares of NOG. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Northern Oil and Gas by 1.4% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 22,851 shares of the company’s stock worth $849,000 after purchasing an additional 320 shares during the last quarter. GAMMA Investing LLC boosted its stake in Northern Oil and Gas by 91.5% during the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after buying an additional 528 shares during the last quarter. Arizona State Retirement System grew its holdings in Northern Oil and Gas by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 25,415 shares of the company’s stock valued at $945,000 after buying an additional 555 shares in the last quarter. Insight Wealth Strategies LLC increased its stake in shares of Northern Oil and Gas by 2.7% in the 2nd quarter. Insight Wealth Strategies LLC now owns 27,197 shares of the company’s stock worth $1,011,000 after acquiring an additional 717 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in shares of Northern Oil and Gas by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 46,000 shares of the company’s stock worth $1,710,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NOG shares. Piper Sandler decreased their price objective on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Truist Financial decreased their price objective on Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating for the company in a report on Monday, September 30th. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a report on Thursday. They issued a “buy” rating and a $53.00 price target for the company. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Mizuho assumed coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They issued an “outperform” rating and a $47.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.80.

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.