Insider Selling: Northern Oil and Gas, Inc. (NYSE:NOG) CEO Sells $142,537.50 in Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CEO Nicholas L. O’grady sold 3,750 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.01, for a total transaction of $142,537.50. Following the completion of the sale, the chief executive officer now directly owns 224,332 shares in the company, valued at $8,526,859.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Northern Oil and Gas Stock Up 2.5 %

NOG stock opened at $39.34 on Friday. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 6.38 and a beta of 1.79. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $43.75. The firm has a 50-day moving average of $38.90 and a two-hundred day moving average of $37.83.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.10. The company had revenue of $396.35 million during the quarter, compared to the consensus estimate of $505.67 million. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. Northern Oil and Gas’s quarterly revenue was down 31.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.76 EPS. As a group, analysts forecast that Northern Oil and Gas, Inc. will post 4.95 earnings per share for the current fiscal year.

Northern Oil and Gas Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Thursday, June 27th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a yield of 4.07%. Northern Oil and Gas’s payout ratio is 25.93%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Piper Sandler increased their target price on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Truist Financial increased their target price on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, StockNews.com raised shares of Northern Oil and Gas from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.00.

Institutional Trading of Northern Oil and Gas

A number of hedge funds and other institutional investors have recently made changes to their positions in NOG. Vanguard Group Inc. increased its holdings in shares of Northern Oil and Gas by 36.4% during the 4th quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock worth $392,480,000 after buying an additional 2,827,642 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Northern Oil and Gas by 27.0% during the 3rd quarter. American Century Companies Inc. now owns 2,562,396 shares of the company’s stock worth $103,085,000 after buying an additional 545,297 shares during the last quarter. Capstone Investment Advisors LLC increased its holdings in shares of Northern Oil and Gas by 8,679.3% during the 1st quarter. Capstone Investment Advisors LLC now owns 512,972 shares of the company’s stock worth $20,355,000 after buying an additional 507,129 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Northern Oil and Gas by 30.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,375,710 shares of the company’s stock worth $51,001,000 after buying an additional 324,958 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Northern Oil and Gas by 13.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,749,749 shares of the company’s stock worth $69,430,000 after buying an additional 212,030 shares during the last quarter. Institutional investors and hedge funds 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.