James B. Evans Sells 3,150 Shares of Northern Oil and Gas, Inc. (NYSE:NOG) Stock

Northern Oil and Gas, Inc. (NYSE:NOG) insider James B. Evans sold 3,150 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the completion of the transaction, the insider now owns 73,753 shares in the company, valued at $3,097,626. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Northern Oil and Gas Price Performance

NOG opened at $42.26 on Wednesday. The stock’s 50 day simple moving average is $36.25 and its 200 day simple moving average is $36.98. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.32. Northern Oil and Gas, Inc. has a 1 year low of $29.57 and a 1 year high of $43.64. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 4.21 and a beta of 1.86.

Northern Oil and Gas (NYSE:NOG) last posted its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.03). Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. The company had revenue of $543.40 million for the quarter, compared to the consensus estimate of $555.31 million. During the same quarter in the previous year, the business earned $1.43 earnings per share. Northern Oil and Gas’s revenue was up 21.9% compared to the same quarter last year. As a group, analysts predict that Northern Oil and Gas, Inc. will post 5.51 earnings per share for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.60 annualized dividend and a yield of 3.79%. Northern Oil and Gas’s payout ratio is 15.94%.

Hedge Funds Weigh In On Northern Oil and Gas

Institutional investors and hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors lifted its holdings in Northern Oil and Gas by 1,349.4% in the 2nd quarter. Captrust Financial Advisors now owns 1,145 shares of the company’s stock worth $29,000 after buying an additional 1,066 shares during the period. Quarry LP purchased a new stake in Northern Oil and Gas in the 2nd quarter worth approximately $31,000. Principal Securities Inc. purchased a new stake in Northern Oil and Gas in the 4th quarter worth approximately $42,000. TFO Wealth Partners LLC lifted its holdings in Northern Oil and Gas by 112,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock worth $42,000 after buying an additional 1,121 shares during the period. Finally, SRS Capital Advisors Inc. lifted its holdings in Northern Oil and Gas by 305.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after buying an additional 927 shares during the period. 98.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NOG has been the topic of a number of research analyst reports. Raymond James decreased their target price on Northern Oil and Gas from $51.00 to $45.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Johnson Rice lowered Northern Oil and Gas from a “buy” rating to an “accumulate” rating in a research report on Thursday, December 14th. Stifel Nicolaus reduced their price objective on Northern Oil and Gas from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Bank of America lowered Northern Oil and Gas from a “buy” rating to an “underperform” rating and set a $39.00 price objective on the stock. in a research report on Friday, January 5th. Finally, Truist Financial reduced their price objective on Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.30.

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.