Northern Oil and Gas, Inc. (NYSE:NOG) CEO Buys $27,480.00 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) CEO Nicholas L. O'grady purchased 1,000 shares of the business's stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $27.48 per share, for a total transaction of $27,480.00. Following the acquisition, the chief executive officer now owns 226,189 shares of the company's stock, valued at approximately $6,215,673.72. This represents a 0.44 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Northern Oil and Gas Stock Performance

Shares of NYSE NOG traded down $0.48 during mid-day trading on Thursday, hitting $28.33. The company had a trading volume of 1,255,068 shares, compared to its average volume of 1,699,072. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a 1 year low of $26.59 and a 1 year high of $44.31. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 5.51 and a beta of 1.84. The stock's 50-day moving average price is $35.60 and its 200-day moving average price is $37.48.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The company had revenue of $545.47 million for the quarter, compared to analysts' expectations of $552.34 million. On average, sell-side analysts forecast that Northern Oil and Gas, Inc. will post 5.18 earnings per share for the current year.

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Northern Oil and Gas Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Friday, March 28th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date is Friday, March 28th. This is a positive change from Northern Oil and Gas's previous quarterly dividend of $0.42. Northern Oil and Gas's dividend payout ratio is 35.02%.

Northern Oil and Gas declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NOG. Mizuho downgraded shares of Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price objective on the stock. in a report on Monday, December 16th. Piper Sandler decreased their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating for the company in a report on Wednesday, January 29th. Citigroup dropped their target price on Northern Oil and Gas from $55.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Capital One Financial downgraded Northern Oil and Gas from an "overweight" rating to an "equal weight" rating in a report on Friday, February 21st. Finally, Truist Financial raised their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $46.89.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Northern Oil and Gas in the third quarter worth $25,000. Headlands Technologies LLC purchased a new stake in shares of Northern Oil and Gas during the 4th quarter valued at $29,000. Blue Trust Inc. lifted its stake in Northern Oil and Gas by 177.2% during the fourth quarter. Blue Trust Inc. now owns 1,253 shares of the company's stock worth $44,000 after purchasing an additional 801 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of Northern Oil and Gas by 23.3% during the 4th quarter. Avior Wealth Management LLC now owns 1,372 shares of the company's stock valued at $51,000 after purchasing an additional 259 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of Northern Oil and Gas during the 4th quarter valued at about $66,000. 98.80% of the stock is currently owned by hedge funds and other institutional investors.

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.