Northern Oil and Gas (NYSE:NOG) Hits New 1-Year High at $43.75

Northern Oil and Gas, Inc. (NYSE:NOG)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $43.75 and last traded at $42.09, with a volume of 288953 shares changing hands. The stock had previously closed at $43.54.

Analyst Ratings Changes

Several brokerages have weighed in on NOG. Citigroup lowered their target price on Northern Oil and Gas from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Jefferies Financial Group increased their price objective on Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Royal Bank of Canada restated an “outperform” rating and set a $46.00 price objective on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Morgan Stanley increased their price target on shares of Northern Oil and Gas from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, Truist Financial decreased their price objective on shares of Northern Oil and Gas from $56.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.30.

Northern Oil and Gas Stock Down 4.0 %

The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 4.34 and a beta of 1.86. The business has a 50 day moving average of $39.14 and a 200 day moving average of $37.33. 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 (NYSE:NOG) last released its quarterly earnings data on Friday, February 23rd. The company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.03). The business had revenue of $543.40 million for the quarter, compared to the consensus estimate of $555.31 million. Northern Oil and Gas had a return on equity of 40.86% and a net margin of 42.61%. Northern Oil and Gas’s revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 earnings per share. On average, equities analysts anticipate that Northern Oil and Gas, Inc. will post 5.53 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.60 annualized dividend and a dividend yield of 3.83%. Northern Oil and Gas’s dividend payout ratio is currently 15.94%.

Insider Buying and Selling

In other Northern Oil and Gas news, insider James B. Evans sold 3,150 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $42.00, for a total value of $132,300.00. Following the sale, the insider now directly owns 73,753 shares in the company, valued at $3,097,626. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Northern Oil and Gas news, President Adam A. Dirlam sold 2,088 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $38.00, for a total transaction of $79,344.00. Following the completion of the sale, the president now directly owns 122,359 shares of the company’s stock, valued at approximately $4,649,642. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James B. Evans sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $42.00, for a total transaction of $132,300.00. Following the completion of the transaction, the insider now directly owns 73,753 shares in the company, valued at approximately $3,097,626. The disclosure for this sale can be found here. Insiders sold 10,944 shares of company stock worth $436,614 in the last 90 days. 2.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northern Oil and Gas

Several institutional investors have recently modified their holdings of NOG. TFO Wealth Partners LLC grew its holdings in shares of 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 valued at $42,000 after buying an additional 1,121 shares during the period. Principal Securities Inc. bought a new position in shares of Northern Oil and Gas during the 4th quarter valued at about $42,000. SRS Capital Advisors Inc. grew its position in shares of 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 valued at $46,000 after purchasing an additional 927 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Northern Oil and Gas in the third quarter valued at approximately $67,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Northern Oil and Gas by 74.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after buying an additional 930 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

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.