Domestic Sale: Northern Oil and Gas, Inc. (NYSE:NOG) Insider Sells 1,500 Shares

Northern Oil and Gas, Inc. (NYSE:NOG – Get Your Free Report) Erik J. Romslo sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $35.26, for a total transaction of $52,890.00. Following the sale, the insider now directly owns 105,713 shares of the company’s stock, valued at approximately $3,727,440.38. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink.

Performance of Northern oil and gas stocks

Shares of NYSE:NOG traded up $0.48 on Wednesday, reaching $36.88. 1,536,842 shares of the company traded hands, compared to its average volume of 1,350,094. The firm has a market cap of $3.73 billion, a P/E ratio of 5.90 and a beta of 1.81. The company has a current ratio of 0.89, a quick ratio of 0.89, and a debt-to-equity ratio of 0.91. Northern Oil and Gas, Inc. has a 1 year low of $31.13 and a 1 year high of $43.80. The stock’s 50-day moving average price is $37.70 and its 200-day moving average price is $39.10.

Northern Oil and Gas (NYSE:NOG – Get Your Free Report ) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.26. Northern Oil and Gas had a net margin of 27.37% and a return on equity of 31.90%. The business had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $542.28 million. In the same quarter last year, the company earned $1.49 EPS. The company’s revenue increased by 17.7% year-on-year. Sell-side analysts predict that Northern Oil and Gas, Inc. will post 5.29 EPS for the current year.

Northern Oil & Gas Raises Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a $0.42 dividend. This represents an annualized dividend of $1.68 and a dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, September 27. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.40. Northern Oil and Gas’s dividend payout ratio (DPR) is 27.23%.

Institutional investors are stepping into northern oil and gas

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 528 shares during the last quarter. TFO Wealth Partners LLC boosted its stake in Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after purchasing an additional 1,121 shares during the last quarter. Quarry LP boosted its holdings 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 worth $42,000 after acquiring an additional 874 shares during the period . Fifth Third Bancorp boosted its holdings in shares of Northern Oil and Gas by 88.2% in 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 acquired a new position in Northern Oil and Gas in the 1st quarter worth about $215,000. Institutional investors and hedge funds own 98.80% of the company’s shares.

Changes in Analyst Ratings

Several equities analysts have weighed in on NOG shares. Morgan Stanley dropped their target price on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. StockNews.com downgraded Northern Oil and Gas from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Mizuho initiated coverage on shares of Northern Oil and Gas in a research note on Thursday, September 19th. They set an “outperform” rating and a $47.00 price target for the company. Finally, Piper Sandler cut their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th . One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Moderate Buy” and an average target price of $46.60, according to MarketBeat.

See our latest report on NOG

Northern Oil and Gas Company Profile

(Get a 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.

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