Northern Oil and Gas (NYSE:NOG) Sets New 1-Year High at $43.75

Shares of Northern Oil and Gas, Inc. (NYSE:NOG) reached a new 52-week high during trading on Tuesday . The company traded as high as $43.75 and last traded at $42.09, with a volume of 288953 shares trading hands. The stock had previously closed at $43.54.

Analyst Ratings Changes

NOG has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their price target on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Truist Financial decreased their price objective on Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Bank of America lowered shares of Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price target for the company. in a report on Friday, January 5th. Stifel Nicolaus boosted their target price on Northern Oil and Gas from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Piper Sandler lifted their price target on Northern Oil and Gas from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.30.

Northern Oil and Gas Price Performance

The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.90. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 4.34 and a beta of 1.86. The stock has a 50-day moving average price of $39.14 and a two-hundred day moving average price of $37.33.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The business had revenue of $543.40 million for the quarter, compared to analyst estimates of $555.31 million. During the same quarter in the prior year, the firm earned $1.43 earnings per share. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. As a group, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.53 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.83%. Northern Oil and Gas’s payout ratio is currently 15.94%.

Insider Transactions at Northern Oil and Gas

In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,088 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $79,344.00. Following the completion of the sale, the president now owns 122,359 shares in the company, valued at approximately $4,649,642. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Nicholas L. O’grady sold 3,750 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $40.98, for a total value of $153,675.00. Following the sale, the chief executive officer now owns 228,082 shares in the company, valued at approximately $9,346,800.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Adam A. Dirlam sold 2,088 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $38.00, for a total value of $79,344.00. Following the transaction, the president now owns 122,359 shares of the company’s stock, valued at $4,649,642. The disclosure for this sale can be found here. Insiders have sold 10,944 shares of company stock valued at $436,614 over the last ninety days. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. TFO Wealth Partners LLC grew its stake in shares of Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after acquiring an additional 1,121 shares in the last quarter. Principal Securities Inc. acquired a new position in Northern Oil and Gas during the 4th quarter worth $42,000. SRS Capital Advisors Inc. increased its holdings in Northern Oil and Gas by 305.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after purchasing an additional 927 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Northern Oil and Gas during the third quarter worth about $67,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Northern Oil and Gas by 74.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after buying an additional 930 shares during the period. 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.