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

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

Northern Oil and Gas Stock Up 2.1 %

NOG stock opened at $38.86 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. The company’s 50 day moving average is $39.26 and its 200 day moving average is $37.80. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 6.30 and a beta of 1.79. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $43.75.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.10. The business had revenue of $396.35 million during the quarter, compared to analyst estimates of $505.67 million. Northern Oil and Gas had a return on equity of 34.06% and a net margin of 30.01%. Northern Oil and Gas’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.76 earnings per share. Sell-side analysts predict that Northern Oil and Gas, Inc. will post 4.95 EPS for the current fiscal year.

Northern Oil and Gas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, June 27th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Thursday, June 27th. Northern Oil and Gas’s dividend payout ratio is currently 25.93%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Truist Financial boosted their price objective on Northern Oil and Gas from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday. Piper Sandler boosted their price objective 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. Finally, Morgan Stanley upped their price target on Northern Oil and Gas from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Northern Oil and Gas currently has a consensus rating of “Moderate Buy” and an average target price of $48.90.

Institutional Trading of Northern Oil and Gas

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Northern Oil and Gas by 0.4% in the first quarter. Vanguard Group Inc. now owns 10,631,476 shares of the company’s stock worth $421,857,000 after buying an additional 43,940 shares in the last quarter. American Century Companies Inc. boosted its stake in Northern Oil and Gas by 27.0% in the third quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after buying an additional 545,297 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Northern Oil and Gas by 13.8% in the first quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after buying an additional 212,030 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Northern Oil and Gas by 13.8% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,445,517 shares of the company’s stock valued at $58,153,000 after purchasing an additional 175,000 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Northern Oil and Gas by 5.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,432,704 shares of the company’s stock valued at $56,850,000 after purchasing an additional 77,537 shares during the period. Hedge funds and other institutional investors own 98.80% of the company’s stock.

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.