Northern Oil and Gas, Inc. (NYSE:NOG) Director Bahram Akradi Buys 40,000 Shares

Northern Oil and Gas, Inc. (NYSE:NOG) Director Bahram Akradi purchased 40,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $28.03 per share, with a total value of $1,121,200.00. Following the completion of the acquisition, the director now directly owns 1,662,016 shares of the company’s stock, valued at $46,586,308.48. This represents a 2.47 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Northern Oil and Gas Price Performance

NOG stock opened at $27.60 on Wednesday. Northern Oil and Gas, Inc. has a twelve month low of $26.82 and a twelve month high of $44.31. The company has a current ratio of 0.92, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. The business has a 50 day simple moving average of $36.65 and a 200-day simple moving average of $37.92. The company has a market capitalization of $2.74 billion, a P/E ratio of 5.37 and a beta of 1.81.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.11 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.16). Northern Oil and Gas had a return on equity of 24.41% and a net margin of 23.38%. The company had revenue of $545.47 million for the quarter, compared to analysts’ expectations of $552.34 million. As a group, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.18 EPS for the current 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 dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.52%. The ex-dividend date is Friday, March 28th. This is a boost from Northern Oil and Gas’s previous quarterly dividend of $0.42. Northern Oil and Gas’s dividend payout ratio is 35.02%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Northern Oil and Gas from $45.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, February 13th. Mizuho downgraded Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a report on Monday, December 16th. Piper Sandler lowered their price target on Northern Oil and Gas from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Truist Financial upped their price target on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Capital One Financial downgraded Northern Oil and Gas from an “overweight” rating to an “equal weight” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.89.

Institutional Investors Weigh In On Northern Oil and Gas

Several large investors have recently modified their holdings of the stock. Avior Wealth Management LLC raised its stake in shares of Northern Oil and Gas by 23.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,372 shares of the company’s stock worth $51,000 after purchasing an additional 259 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Northern Oil and Gas by 9.1% during the fourth quarter. First Horizon Advisors Inc. now owns 3,473 shares of the company’s stock worth $129,000 after purchasing an additional 289 shares during the last quarter. Avantax Advisory Services Inc. raised its position in Northern Oil and Gas by 2.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 13,112 shares of the company’s stock worth $487,000 after acquiring an additional 298 shares in the last quarter. Summit Investment Advisors Inc. raised its position in Northern Oil and Gas by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,378 shares of the company’s stock worth $386,000 after acquiring an additional 329 shares in the last quarter. Finally, Legato Capital Management LLC raised its position in Northern Oil and Gas by 5.8% in the fourth quarter. Legato Capital Management LLC now owns 6,383 shares of the company’s stock worth $237,000 after acquiring an additional 349 shares in the last quarter. 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.