Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) CFO Chad W. Allen sold 500 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $37.13, for a total transaction of $18,565.00. Following the sale, the chief financial officer now owns 85,292 shares in the company, valued at $3,166,891.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Northern Oil and Gas Stock Up 1.5 %
Shares of NYSE:NOG opened at $39.66 on Friday. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $43.80. 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 business's 50-day moving average is $37.65 and its 200-day moving average is $39.09. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of 6.43 and a beta of 1.81.
Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $542.28 million. During the same period in the prior year, the business earned $1.49 EPS. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. Equities research analysts predict that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current year.
Northern Oil and Gas Increases Dividend
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The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be paid a $0.42 dividend. This is an increase from Northern Oil and Gas's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 4.24%. The ex-dividend date is Friday, September 27th. Northern Oil and Gas's payout ratio is 27.23%.
Hedge Funds Weigh In On Northern Oil and Gas
A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Northern Oil and Gas by 91.5% in the second quarter. GAMMA Investing LLC now owns 1,105 shares of the company's stock valued at $41,000 after buying an additional 528 shares in the last quarter. 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. Quarry LP increased its position in shares of Northern Oil and Gas by 338.8% during the 2nd quarter. Quarry LP now owns 1,132 shares of the company's stock valued at $42,000 after purchasing an additional 874 shares during the last quarter. Fifth Third Bancorp grew its position in Northern Oil and Gas by 88.2% during the second quarter. Fifth Third Bancorp now owns 2,204 shares of the company's stock valued at $82,000 after buying an additional 1,033 shares during the period. Finally, Marks Group Wealth Management Inc bought a new position in Northern Oil and Gas during the first quarter valued at about $215,000. 98.80% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on NOG. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a research report on Thursday. They issued a "buy" rating and a $53.00 target price on the stock. Morgan Stanley reduced their price objective on shares of Northern Oil and Gas from $42.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $46.00 target price on shares of Northern Oil and Gas in a research report on Wednesday, July 3rd. Mizuho initiated coverage on Northern Oil and Gas in a research report on Thursday, September 19th. They issued an "outperform" rating and a $47.00 price target on the stock. Finally, Piper Sandler decreased their price target on Northern Oil and Gas from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given 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 a consensus target price of $46.80.
Get Our Latest Research Report on NOG
Northern Oil and Gas Company Profile
(
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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.
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