Northern Oil and Gas, Inc. (NYSE:NOG – Get Free Report)’s share price fell 4.3% during trading on Friday . The company traded as low as $39.63 and last traded at $39.71. 291,391 shares were traded during trading, a decline of 78% from the average session volume of 1,301,904 shares. The stock had previously closed at $41.51.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Truist Financial boosted their target price on Northern Oil and Gas from $44.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Mizuho assumed coverage on Northern Oil and Gas in a research note on Thursday, September 19th. They issued an “outperform” rating and a $47.00 target price on the stock. Royal Bank of Canada lowered Northern Oil and Gas from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $43.00 to $45.00 in a research note on Wednesday, November 20th. Morgan Stanley reduced their price target on Northern Oil and Gas from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Jefferies Financial Group assumed coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They issued a “buy” rating and a $53.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.
View Our Latest Stock Analysis on Northern Oil and Gas
Northern Oil and Gas Stock Performance
Northern Oil and Gas (NYSE:NOG – Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. Northern Oil and Gas had a return on equity of 27.52% and a net margin of 33.44%. The company had revenue of $753.64 million during the quarter, compared to analyst estimates of $540.23 million. During the same quarter in the previous year, the company posted $1.73 EPS. Northern Oil and Gas’s revenue for the quarter was up 140.0% on a year-over-year basis. On average, equities analysts expect that Northern Oil and Gas, Inc. will post 5.4 earnings per share for the current fiscal year.
Northern Oil and Gas Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, December 30th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Monday, December 30th. Northern Oil and Gas’s payout ratio is 20.17%.
Insiders Place Their Bets
In other news, CFO Chad W. Allen sold 1,500 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $40.00, for a total transaction of $60,000.00. Following the transaction, the chief financial officer now directly owns 83,792 shares of the company’s stock, valued at $3,351,680. This represents a 1.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Adam A. Dirlam sold 2,508 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.50, for a total value of $96,558.00. Following the completion of the transaction, the president now directly owns 107,876 shares in the company, valued at approximately $4,153,226. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,508 shares of company stock worth $248,113. Company insiders own 2.80% of the company’s stock.
Hedge Funds Weigh In On Northern Oil and Gas
Institutional investors have recently bought and sold shares of the stock. Icon Wealth Advisors LLC bought a new position in Northern Oil and Gas in the 3rd quarter worth $828,000. American Century Companies Inc. increased its stake in Northern Oil and Gas by 11.0% in the 2nd quarter. American Century Companies Inc. now owns 5,566,459 shares of the company’s stock worth $206,905,000 after buying an additional 552,645 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Northern Oil and Gas by 18.5% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 453,414 shares of the company’s stock worth $16,853,000 after buying an additional 70,709 shares in the last quarter. SG Americas Securities LLC increased its stake in Northern Oil and Gas by 1,772.3% in the 2nd quarter. SG Americas Securities LLC now owns 116,045 shares of the company’s stock worth $4,313,000 after buying an additional 109,847 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in Northern Oil and Gas in the 2nd quarter worth $625,000. 98.80% of the stock is owned by institutional investors.
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.
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