Northern Oil and Gas, Inc. (NYSE:NOG - Get Free Report) CEO Nicholas L. O'grady sold 3,750 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $40.98, for a total transaction of $153,675.00. Following the sale, the chief executive officer now owns 228,082 shares in the company, valued at approximately $9,346,800.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Northern Oil and Gas Price Performance
NYSE NOG opened at $40.75 on Friday. Northern Oil and Gas, Inc. has a 12 month low of $29.57 and a 12 month high of $43.64. The firm has a market capitalization of $4.14 billion, a PE ratio of 4.06 and a beta of 1.86. The company's 50 day simple moving average is $35.98 and its 200 day simple moving average is $36.99. 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 - Get Free Report) last issued its quarterly earnings results on Friday, February 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.03). Northern Oil and Gas had a net margin of 42.61% and a return on equity of 40.86%. The firm had revenue of $543.40 million for the quarter, compared to the consensus estimate of $555.31 million. During the same period in the previous year, the business posted $1.43 earnings per share. The business's revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, equities research analysts forecast that Northern Oil and Gas, Inc. will post 5.57 EPS for the current fiscal year.
Northern Oil and Gas Dividend Announcement
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.93%. The ex-dividend date is Wednesday, March 27th. Northern Oil and Gas's dividend payout ratio (DPR) is presently 15.94%.
Analyst Ratings Changes
Several research firms have recently commented on NOG. Royal Bank of Canada reaffirmed an "outperform" rating and set a $46.00 target price on shares of Northern Oil and Gas in a report on Wednesday, March 6th. Jefferies Financial Group increased their target price on Northern Oil and Gas from $45.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Stifel Nicolaus reduced their price target on shares of Northern Oil and Gas from $54.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, January 23rd. Bank of America cut shares of Northern Oil and Gas from a "buy" rating to an "underperform" rating and set a $39.00 price objective on the stock. in a report on Friday, January 5th. Finally, Morgan Stanley decreased their target price on shares of Northern Oil and Gas from $39.00 to $38.00 and set an "equal weight" rating for the company in a research report on Thursday, March 28th. 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.40.
Get Our Latest Stock Analysis on NOG
Institutional Investors Weigh In On Northern Oil and Gas
A number of institutional investors and hedge funds have recently bought and sold shares of NOG. Bank of New York Mellon Corp raised its holdings in shares of Northern Oil and Gas by 7.2% in the 1st quarter. Bank of New York Mellon Corp now owns 434,031 shares of the company's stock worth $12,236,000 after purchasing an additional 29,141 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Northern Oil and Gas in the first quarter worth approximately $200,000. Cetera Advisor Networks LLC increased its holdings in shares of Northern Oil and Gas by 40.4% in the first quarter. Cetera Advisor Networks LLC now owns 17,783 shares of the company's stock valued at $501,000 after buying an additional 5,121 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of Northern Oil and Gas during the 1st quarter valued at $207,000. Finally, Citigroup Inc. boosted its stake in shares of Northern Oil and Gas by 32.9% during the 1st quarter. Citigroup Inc. now owns 88,939 shares of the company's stock worth $2,507,000 after acquiring an additional 22,033 shares in the last quarter. 98.80% of the stock is owned by institutional investors and hedge funds.
Northern Oil and Gas Company Profile
(
Get Free Report)
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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