Insider Selling: Northern Oil and Gas, Inc. (NYSE:NOG) President Sells 836 Shares of Stock

Northern Oil and Gas, Inc. (NYSE:NOG) President Adam A. Dirlam sold 836 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $39.00, for a total transaction of $32,604.00. Following the completion of the sale, the president now owns 96,223 shares of the company’s stock, valued at approximately $3,752,697. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Northern Oil and Gas Price Performance

NYSE:NOG traded up $0.72 on Tuesday, reaching $39.22. The stock had a trading volume of 1,010,645 shares, compared to its average volume of 1,022,285. The company has a market capitalization of $3.92 billion, a P/E ratio of 4.71 and a beta of 1.85. The stock has a fifty day moving average price of $39.53 and a 200-day moving average price of $38.64. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $44.31.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. During the same period in the previous year, the firm posted $1.73 earnings per share. The company’s revenue was up 140.0% on a year-over-year basis. Research analysts forecast that Northern Oil and Gas, Inc. will post 5.4 EPS for the current year.

Northern Oil and Gas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s dividend payout ratio is 20.17%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. lifted its position in shares of Northern Oil and Gas by 11.0% in the second quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after purchasing an additional 552,645 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Northern Oil and Gas by 45.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company’s stock valued at $93,744,000 after purchasing an additional 789,985 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Northern Oil and Gas by 4.6% in the third quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company’s stock valued at $80,884,000 after purchasing an additional 100,761 shares during the last quarter. Copeland Capital Management LLC increased its holdings in shares of Northern Oil and Gas by 0.6% in the third quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company’s stock valued at $74,245,000 after purchasing an additional 12,079 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Northern Oil and Gas by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 985,643 shares of the company’s stock valued at $34,902,000 after purchasing an additional 103,314 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NOG shares. Piper Sandler cut their target price on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, December 17th. Mizuho downgraded shares of Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 target price for the company. in a research report on Monday, December 16th. Truist Financial raised their price target on shares of Northern Oil and Gas from $51.00 to $52.00 and gave the company a “buy” rating in a report on Friday, December 13th. Royal Bank of Canada downgraded shares of Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. Finally, Jefferies Financial Group initiated coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Northern Oil and Gas has an average rating of “Moderate Buy” and a consensus price target of $47.20.

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.