Nicholas L. O’grady Sells 3,750 Shares of Northern Oil and Gas, Inc. (NYSE:NOG) Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $38.01, for a total value of $142,537.50. Following the sale, the chief executive officer now owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Northern Oil and Gas Stock Performance

Shares of NOG opened at $38.37 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 stock has a market capitalization of $3.88 billion, a P/E ratio of 6.22 and a beta of 1.79. The firm’s fifty day simple moving average is $38.92 and its two-hundred day simple moving average is $37.82. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.75.

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

Northern Oil and Gas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, June 27th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.17%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 25.93%.

Hedge Funds Weigh In On Northern Oil and Gas

A number of institutional investors and hedge funds have recently made changes to their positions in NOG. GAMMA Investing LLC boosted its position in shares of Northern Oil and Gas by 91.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,105 shares of the company’s stock worth $41,000 after purchasing an additional 528 shares in the last quarter. Principal Securities Inc. bought a new position in Northern Oil and Gas in the 4th quarter valued at about $42,000. TFO Wealth Partners LLC lifted its position in Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after acquiring an additional 1,121 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in Northern Oil and Gas by 305.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock valued at $46,000 after acquiring an additional 927 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Northern Oil and Gas by 74.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock valued at $81,000 after acquiring an additional 930 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Jefferies Financial Group upped their price target on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Stifel Nicolaus upped their price target on shares of Northern Oil and Gas from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. StockNews.com upgraded shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a report on Thursday, May 2nd. Truist Financial upped their price target on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

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.