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 bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $27.48 per share, for a total transaction of $27,480.00. Following the acquisition, the chief executive officer now owns 226,189 shares of the company’s stock, valued at $6,215,673.72. This represents a 0.44 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Northern Oil and Gas Price Performance

Shares of NYSE:NOG opened at $27.89 on Tuesday. The company’s fifty day moving average is $35.95 and its two-hundred day moving average is $37.62. The company has a quick ratio of 1.23, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. Northern Oil and Gas, Inc. has a 12-month low of $26.59 and a 12-month 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 announced its earnings results on Wednesday, February 19th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a net margin of 23.38% and a return on equity of 24.41%. The firm had revenue of $545.47 million for the quarter, compared to analyst estimates of $552.34 million. Equities analysts expect 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, March 28th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 28th. This is an increase from Northern Oil and Gas’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.45%. Northern Oil and Gas’s dividend payout ratio is 35.02%.

Hedge Funds Weigh In On Northern Oil and Gas

A number of hedge funds have recently modified their holdings of NOG. Amalgamated Bank increased its stake in shares of Northern Oil and Gas by 3.9% in the third quarter. Amalgamated Bank now owns 29,290 shares of the company’s stock worth $1,037,000 after acquiring an additional 1,108 shares during the last quarter. Covestor Ltd increased its stake in shares of Northern Oil and Gas by 122.6% in the third quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after acquiring an additional 1,048 shares during the last quarter. Versor Investments LP acquired a new position in shares of Northern Oil and Gas in the third quarter worth $503,000. Entropy Technologies LP acquired a new position in shares of Northern Oil and Gas in the third quarter worth $397,000. Finally, Aptus Capital Advisors LLC increased its stake in shares of Northern Oil and Gas by 15.6% in the third quarter. Aptus Capital Advisors LLC now owns 190,068 shares of the company’s stock worth $6,730,000 after acquiring an additional 25,580 shares during the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial boosted their target price 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. Piper Sandler cut their price objective on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Morgan Stanley set a $43.00 price objective on Northern Oil and Gas in a research report on Wednesday, January 22nd. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research report on Monday, December 16th. Finally, Capital One Financial downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.