Stock Traders Buy Large Volume of Northern Oil and Gas Call Options (NYSE:NOG)

Northern Oil and Gas, Inc. (NYSE:NOG) was the target of unusually large options trading activity on Tuesday. Stock investors acquired 4,489 call options on the company. This is an increase of 115% compared to the typical volume of 2,086 call options.

Northern Oil and Gas Stock Performance

NYSE:NOG opened at $29.20 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $2.84 billion, a PE ratio of 88.47 and a beta of 0.96. The firm has a 50 day simple moving average of $26.87 and a 200-day simple moving average of $24.23. Northern Oil and Gas has a 1-year low of $19.88 and a 1-year high of $32.62.

Northern Oil and Gas (NYSE:NOG) last announced its earnings results on Wednesday, February 25th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.12. The firm had revenue of $610.18 million for the quarter, compared to analyst estimates of $524.98 million. Northern Oil and Gas had a net margin of 1.57% and a return on equity of 19.74%. Northern Oil and Gas’s revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.11 earnings per share. On average, equities analysts expect that Northern Oil and Gas will post 5.18 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, March 30th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, March 30th. This represents a $1.80 annualized dividend and a dividend yield of 6.2%. Northern Oil and Gas’s dividend payout ratio (DPR) is 545.45%.

Analyst Upgrades and Downgrades

NOG has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Northern Oil and Gas in a research note on Thursday, January 22nd. Bank of America raised their price target on Northern Oil and Gas from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Citigroup boosted their price target on Northern Oil and Gas from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank Of Canada reduced their price objective on Northern Oil and Gas from $33.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 20th. Finally, Morgan Stanley set a $24.00 price objective on Northern Oil and Gas and gave the company an “underweight” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.71.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors have recently added to or reduced their stakes in NOG. First Horizon Corp acquired a new stake in Northern Oil and Gas in the 3rd quarter worth about $27,000. Laurel Wealth Advisors LLC increased its stake in shares of Northern Oil and Gas by 2,736.1% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,021 shares of the company’s stock valued at $29,000 after acquiring an additional 985 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Northern Oil and Gas by 181.0% during the 1st quarter. Jones Financial Companies Lllp now owns 1,107 shares of the company’s stock valued at $33,000 after acquiring an additional 713 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Northern Oil and Gas by 572.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,682 shares of the company’s stock worth $36,000 after acquiring an additional 1,432 shares during the period. Finally, Plato Investment Management Ltd purchased a new position in shares of Northern Oil and Gas during the 4th quarter worth about $43,000. 98.80% of the stock is currently owned by institutional investors and hedge funds.

Northern Oil and Gas Company Profile

Northern Oil and Gas, Inc is a publicly traded independent energy company focused on the acquisition, exploration and development of oil and natural gas resources in the United States. The company’s primary operations are concentrated in the Williston Basin, where it secures acreage positions and partners with drilling operators to advance upstream projects. Through strategic leasehold acquisitions and joint ventures, Northern Oil and Gas seeks to expand its footprint in both conventional and unconventional reservoirs.

Northern Oil and Gas employs horizontal drilling and hydraulic fracturing technologies to develop unconventional resource plays, particularly in the Bakken, Three Forks and Red River formations of North Dakota and Montana.