Northern Oil and Gas, Inc. (NYSE:NOG) Director Bahram Akradi Buys 40,000 Shares

Northern Oil and Gas, Inc. (NYSE:NOG) Director Bahram Akradi acquired 40,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $28.03 per share, with a total value of $1,121,200.00. Following the transaction, the director now directly owns 1,662,016 shares of the company’s stock, valued at $46,586,308.48. This represents a 2.47 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Northern Oil and Gas Stock Down 2.9 %

NOG opened at $27.60 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. The firm has a market cap of $2.74 billion, a P/E ratio of 5.37 and a beta of 1.81. Northern Oil and Gas, Inc. has a 52 week low of $26.82 and a 52 week high of $44.31. The business’s fifty day simple moving average is $36.65 and its 200 day simple moving average is $37.92.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). The company had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. As a group, equities research analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 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 Wednesday, April 30th. Shareholders of record on Friday, March 28th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.52%. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 28th. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 35.02%.

Institutional Trading of Northern Oil and Gas

A number of hedge funds have recently added to or reduced their stakes in NOG. Legacy Investment Solutions LLC acquired a new stake in Northern Oil and Gas in the 3rd quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in Northern Oil and Gas in the 4th quarter worth about $29,000. Blue Trust Inc. boosted its stake in Northern Oil and Gas by 177.2% in the 4th quarter. Blue Trust Inc. now owns 1,253 shares of the company’s stock worth $44,000 after buying an additional 801 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Northern Oil and Gas by 23.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after buying an additional 259 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Northern Oil and Gas in the 4th quarter worth about $66,000. 98.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley set a $43.00 price objective on Northern Oil and Gas in a research report on Wednesday, January 22nd. Truist Financial raised their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Royal Bank of Canada dropped their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Citigroup dropped their price target on Northern Oil and Gas from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Finally, Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Hold” and a consensus price target of $46.89.

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.