Insider Selling: Northern Oil and Gas, Inc. (NYSE:NOG) CFO Sells 500 Shares of Stock

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) CFO Chad W. Allen sold 500 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $40.33, for a total transaction of $20,165.00. Following the completion of the sale, the chief financial officer now directly owns 75,814 shares in the company, valued at approximately $3,057,578.62. This represents a 0.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Northern Oil and Gas Stock Up 2.0 %

Shares of NOG traded up $0.81 during mid-day trading on Monday, hitting $40.77. The company's stock had a trading volume of 1,726,606 shares, compared to its average volume of 1,202,442. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 4.89 and a beta of 1.85. The company's 50-day moving average is $39.88 and its 200-day moving average is $38.70. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a 52-week low of $31.13 and a 52-week high of $44.31.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted 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. The company had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. Northern Oil and Gas's revenue was up 140.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. On average, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.4 EPS for the current fiscal year.

Northern Oil and Gas Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 4.12%. Northern Oil and Gas's dividend payout ratio (DPR) is presently 20.17%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley cut their target price on 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. Truist Financial increased their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday. Mizuho downgraded 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. Jefferies Financial Group began coverage on shares of Northern Oil and Gas in a report on Thursday, October 3rd. They issued a "buy" rating and a $53.00 price target on the stock. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $45.00 price objective on shares of Northern Oil and Gas in a report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.50.

Institutional Trading of Northern Oil and Gas

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in Northern Oil and Gas by 45.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company's stock worth $93,744,000 after buying an additional 789,985 shares during the last quarter. abrdn plc acquired a new stake in Northern Oil and Gas in the third quarter worth about $17,096,000. Bridgewater Associates LP grew its stake in shares of Northern Oil and Gas by 135.6% during the third quarter. Bridgewater Associates LP now owns 511,170 shares of the company's stock worth $18,101,000 after acquiring an additional 294,223 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Northern Oil and Gas by 41.4% during the third quarter. New York State Common Retirement Fund now owns 940,987 shares of the company's stock valued at $33,320,000 after acquiring an additional 275,704 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Northern Oil and Gas by 58.6% in the 3rd quarter. Jennison Associates LLC now owns 521,115 shares of the company's stock valued at $18,453,000 after purchasing an additional 192,539 shares during the last quarter. 98.80% of the stock is 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.