Chad W. Allen Sells 1,500 Shares of Northern Oil and Gas, Inc. (NYSE:NOG) Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen sold 1,500 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $40.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now directly owns 83,792 shares in the company, valued at $3,351,680. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Northern Oil and Gas Trading Up 0.4 %

Shares of NYSE NOG opened at $39.24 on Friday. Northern Oil and Gas, Inc. has a twelve month low of $31.13 and a twelve month high of $43.80. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 6.36 and a beta of 1.81. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.91. The company’s fifty day moving average is $37.54 and its 200-day moving average is $39.10.

Northern Oil and Gas (NYSE:NOG) last posted its earnings results on Tuesday, July 30th. The company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.26. Northern Oil and Gas had a return on equity of 31.90% and a net margin of 27.37%. The firm had revenue of $560.80 million for the quarter, compared to analyst estimates of $542.28 million. During the same period in the previous year, the company posted $1.49 earnings per share. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities research analysts predict that Northern Oil and Gas, Inc. will post 5.29 EPS for the current year.

Northern Oil and Gas Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.28%. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, September 27th. Northern Oil and Gas’s dividend payout ratio is presently 27.23%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Northern Oil and Gas by 18.3% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 31,030 shares of the company’s stock worth $1,150,000 after acquiring an additional 4,800 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Northern Oil and Gas by 10.5% in the fourth quarter. Wellington Management Group LLP now owns 461,090 shares of the company’s stock valued at $17,093,000 after purchasing an additional 43,825 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Northern Oil and Gas by 36.4% in the fourth quarter. Vanguard Group Inc. now owns 10,587,536 shares of the company’s stock valued at $392,480,000 after purchasing an additional 2,827,642 shares in the last quarter. Insight Wealth Strategies LLC boosted its position in shares of Northern Oil and Gas by 4.4% during the first quarter. Insight Wealth Strategies LLC now owns 26,480 shares of the company’s stock worth $1,051,000 after buying an additional 1,114 shares during the period. Finally, RFG Advisory LLC grew its holdings in shares of Northern Oil and Gas by 21.0% during the first quarter. RFG Advisory LLC now owns 7,439 shares of the company’s stock worth $295,000 after buying an additional 1,291 shares in the last quarter. Institutional investors own 98.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NOG. Truist Financial decreased their price objective on Northern Oil and Gas from $55.00 to $44.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Jefferies Financial Group assumed coverage on Northern Oil and Gas in a report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target on the stock. Mizuho initiated coverage on Northern Oil and Gas in a report on Thursday, September 19th. They set an “outperform” rating and a $47.00 price objective for the company. Bank of America raised their target price on shares of Northern Oil and Gas from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Morgan Stanley dropped their price target on shares of Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.80.

About Northern Oil and Gas

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.