Northern Oil and Gas, Inc. (NYSE:NOG) Insider Sells $52,890.00 in Stock

by · The Markets Daily

Northern Oil and Gas, Inc. (NYSE:NOG – Get Free Report) insider Erik J. Romslo sold 1,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the completion of the sale, the insider now directly owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Northern Oil and Gas Stock Performance

NOG opened at $39.66 on Friday. 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 PE ratio of 6.43 and a beta of 1.81. The stock has a 50-day moving average of $37.65 and a 200-day moving average of $39.09. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $43.80.

Northern Oil and Gas (NYSE:NOG – Get Free Report) last announced its 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 during the quarter, compared to analysts’ expectations of $542.28 million. During the same quarter in the prior year, the business earned $1.49 earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. As a group, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.29 earnings per share for the current fiscal year.

Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 27th. This is a positive change from Northern Oil and Gas’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 4.24%. Northern Oil and Gas’s dividend payout ratio (DPR) is presently 27.23%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its position 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 purchasing an additional 528 shares during the last quarter. TFO Wealth Partners LLC boosted its stake in Northern Oil and Gas by 112,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after purchasing an additional 1,121 shares during the period. Quarry LP grew its holdings in Northern Oil and Gas by 338.8% in the 2nd quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after buying an additional 874 shares during the last quarter. Fifth Third Bancorp grew its holdings in Northern Oil and Gas by 88.2% in the 2nd 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 last quarter. Finally, Marks Group Wealth Management Inc bought a new position in Northern Oil and Gas in the 1st quarter worth approximately $215,000. Institutional investors and hedge funds own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

NOG has been the topic of a number of research reports. Jefferies Financial Group initiated coverage on Northern Oil and Gas in a report on Thursday. They issued a “buy” rating and a $53.00 target price on the stock. Piper Sandler cut their target price on shares of Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. StockNews.com cut shares of Northern Oil and Gas from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Finally, Morgan Stanley reduced their price objective on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.80.

Read Our Latest Analysis on NOG

Northern Oil and Gas Company Profile

(Get Free Report)

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.

See Also