Adam A. Dirlam Sells 2,508 Shares of Northern Oil and Gas, Inc. (NYSE:NOG) Stock

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 2,508 shares of Northern Oil and Gas stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the sale, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Northern Oil and Gas Price Performance

Shares of NYSE NOG traded up $0.58 during midday trading on Friday, reaching $39.66. The company’s stock had a trading volume of 1,160,279 shares, compared to its average volume of 1,353,539. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $4.01 billion, a P/E ratio of 6.42 and a beta of 1.81. The business’s 50 day moving average price is $37.66 and its two-hundred day moving average price is $39.08. Northern Oil and Gas, Inc. has a fifty-two week low of $31.13 and a fifty-two week high of $43.80.

Northern Oil and Gas (NYSE:NOG) last released its earnings results 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 firm had revenue of $560.80 million during the quarter, compared to the consensus estimate of $542.28 million. During the same period in the prior year, the company posted $1.49 EPS. The company’s revenue was up 17.7% compared to the same quarter last year. On average, analysts forecast that Northern Oil and Gas, Inc. will post 5.29 EPS for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company 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. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.68 annualized dividend and a dividend yield of 4.24%. Northern Oil and Gas’s dividend payout ratio (DPR) is currently 27.23%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NOG. SG Americas Securities LLC boosted its stake in shares of Northern Oil and Gas by 39.2% in the 3rd quarter. SG Americas Securities LLC now owns 161,569 shares of the company’s stock valued at $5,721,000 after purchasing an additional 45,524 shares in the last quarter. Heritage Wealth Management Inc. acquired a new stake in Northern Oil and Gas in the second quarter valued at approximately $939,000. Quarry LP grew its stake in shares of Northern Oil and Gas by 338.8% during the second quarter. Quarry LP now owns 1,132 shares of the company’s stock worth $42,000 after buying an additional 874 shares during the last quarter. Creative Planning increased its holdings in shares of Northern Oil and Gas by 80.6% during the second quarter. Creative Planning now owns 23,712 shares of the company’s stock worth $881,000 after buying an additional 10,580 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Northern Oil and Gas in the 2nd quarter valued at $340,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. StockNews.com downgraded shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Jefferies Financial Group began coverage on Northern Oil and Gas in a research report on Thursday. They set a “buy” rating and a $53.00 price target on the stock. Mizuho started 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. Truist Financial reduced their target price on Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating for the company in a research note on Monday. Finally, Bank of America increased their price target on Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas presently has a consensus rating of “Moderate Buy” and an average target price of $46.80.

Northern Oil and Gas Company Profile

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.