Northern Oil and Gas, Inc. (NYSE:NOG) CEO Nicholas L. O’grady Buys 1,000 Shares

Northern Oil and Gas, Inc. (NYSE:NOG) CEO Nicholas L. O’grady acquired 1,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the completion of the transaction, the chief executive officer now directly owns 226,189 shares of the company’s stock, valued at $6,215,673.72. This trade represents a 0.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Northern Oil and Gas Stock Performance

Shares of NOG stock opened at $27.89 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. The business has a 50 day moving average of $35.95 and a two-hundred day moving average of $37.62. Northern Oil and Gas, Inc. has a 52 week low of $26.59 and a 52 week high of $44.31. The company has a market cap of $2.76 billion, a P/E ratio of 5.43 and a beta of 1.84.

Northern Oil and Gas (NYSE:NOG) last issued its earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.16). The company had revenue of $545.47 million during the quarter, compared to analyst estimates of $552.34 million. Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. As a group, analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current 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 issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date of this dividend is Friday, March 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s payout ratio is 35.02%.

Institutional Investors Weigh In On Northern Oil and Gas

Hedge funds have recently made changes to their positions in the business. Icon Wealth Advisors LLC bought a new stake in shares of Northern Oil and Gas during the third quarter valued at approximately $828,000. Principal Financial Group Inc. raised its holdings in shares of Northern Oil and Gas by 2.5% during the fourth quarter. Principal Financial Group Inc. now owns 481,797 shares of the company’s stock valued at $17,904,000 after buying an additional 11,690 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Northern Oil and Gas by 36.1% during the fourth quarter. State of Alaska Department of Revenue now owns 77,439 shares of the company’s stock valued at $2,877,000 after buying an additional 20,550 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Northern Oil and Gas by 297.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,098 shares of the company’s stock valued at $77,000 after buying an additional 1,570 shares during the last quarter. Finally, James Investment Research Inc. bought a new stake in Northern Oil and Gas during the fourth quarter worth approximately $393,000. Institutional investors own 98.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank of Canada lowered their target price on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th. Capital One Financial downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 21st. Piper Sandler decreased their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley set a $43.00 price target on Northern Oil and Gas in a research note on Wednesday, January 22nd. Finally, Truist Financial lifted their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Northern Oil and Gas presently has an average rating of “Hold” and an average target price of $46.89.

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.