Insider Buying: Northern Oil and Gas, Inc. (NYSE:NOG) Director Acquires 40,000 Shares of Stock

Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) Director Bahram Akradi purchased 40,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $28.03 per share, for a total transaction of $1,121,200.00. Following the acquisition, the director now owns 1,662,016 shares of the company's stock, valued at $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Northern Oil and Gas Stock Performance

Shares of NOG stock traded down $0.44 during trading hours on Thursday, reaching $27.17. The company had a trading volume of 855,339 shares, compared to its average volume of 1,632,418. Northern Oil and Gas, Inc. has a one year low of $26.59 and a one year high of $44.31. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 0.92. The business has a fifty day moving average price of $36.48 and a 200-day moving average price of $37.85. The firm has a market cap of $2.69 billion, a PE ratio of 5.27 and a beta of 1.81.

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

Northern Oil and Gas Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, March 28th. This represents a $1.80 annualized dividend and a dividend yield of 6.62%. 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 presently 35.02%.

Analysts Set New Price Targets

NOG has been the subject of several research analyst reports. Morgan Stanley set a $43.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, January 22nd. Mizuho lowered Northern Oil and Gas from an "outperform" rating to a "neutral" rating and set a $47.00 price target on the stock. in a research report on Monday, December 16th. Truist Financial increased their price objective on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Citigroup dropped their target price on shares of 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. Finally, Piper Sandler reduced their target price on shares of Northern Oil and Gas from $37.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $46.89.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors have recently made changes to their positions in NOG. Legacy Investment Solutions LLC bought a new position in Northern Oil and Gas in the third quarter worth approximately $25,000. Headlands Technologies LLC purchased a new stake in shares of Northern Oil and Gas in the 4th quarter worth $29,000. Blue Trust Inc. raised its holdings in Northern Oil and Gas by 177.2% in the 4th 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 period. Avior Wealth Management LLC lifted its position in Northern Oil and Gas by 23.3% during the fourth 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 in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Northern Oil and Gas during the fourth quarter valued at about $66,000. Institutional investors own 98.80% of the company's stock.

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.