Northern Oil and Gas (NYSE:NOG) Trading Down 4.3% - Should You Sell?

Shares of Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) were down 4.3% during trading on Friday . The stock traded as low as $39.63 and last traded at $39.71. Approximately 291,391 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 1,301,904 shares. The stock had previously closed at $41.51.

Analyst Ratings Changes

NOG has been the subject of several research analyst reports. Jefferies Financial Group started coverage on shares of Northern Oil and Gas in a research note on Thursday, October 3rd. They set a "buy" rating and a $53.00 target price for the company. Truist Financial increased their price objective on shares of Northern Oil and Gas from $44.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Morgan Stanley reduced 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 report on Monday, September 16th. Mizuho began coverage on 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, Royal Bank of Canada cut Northern Oil and Gas from an "outperform" rating to a "sector perform" rating and raised their price target for the company from $43.00 to $45.00 in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.50.

Northern Oil and Gas Trading Down 3.1 %

The stock has a market cap of $4.02 billion, a PE ratio of 4.83 and a beta of 1.85. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a fifty day moving average price of $39.58 and a 200 day moving average price of $38.73.

Northern Oil and Gas (NYSE:NOG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.20 by $0.20. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. During the same period in the previous year, the firm earned $1.73 earnings per share. Northern Oil and Gas's quarterly revenue was up 140.0% compared to the same quarter last year. Equities analysts expect that Northern Oil and Gas, Inc. will post 5.4 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Monday, December 30th. Northern Oil and Gas's dividend payout ratio (DPR) is currently 20.17%.

Insiders Place Their Bets

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,508 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the sale, the president now owns 107,876 shares in the company, valued at $4,153,226. This trade represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Erik J. Romslo sold 1,500 shares of Northern Oil and Gas stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $35.26, for a total value of $52,890.00. Following the sale, the insider now owns 105,713 shares of the company's stock, valued at approximately $3,727,440.38. This trade represents a 1.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,508 shares of company stock valued at $248,113 over the last 90 days. Insiders own 2.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NOG. American Century Companies Inc. grew its stake in Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company's stock worth $206,905,000 after acquiring an additional 552,645 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Northern Oil and Gas by 45.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,521,924 shares of the company's stock worth $93,744,000 after purchasing an additional 789,985 shares in the last quarter. Geode Capital Management LLC increased its holdings in Northern Oil and Gas by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,283,777 shares of the company's stock worth $80,884,000 after purchasing an additional 100,761 shares during the period. Copeland Capital Management LLC raised its position in Northern Oil and Gas by 0.6% during the 3rd quarter. Copeland Capital Management LLC now owns 2,096,714 shares of the company's stock valued at $74,245,000 after purchasing an additional 12,079 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Northern Oil and Gas by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,220,044 shares of the company's stock valued at $45,349,000 after purchasing an additional 49,632 shares in the last quarter. Hedge funds and other institutional investors own 98.80% of the company's stock.

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.